Question: A first-year accounting learner is confused by a statement made in a recent online class discussion. The faculty member stated that the assets listed in

A first-year accounting learner is confused by a statement made in a recent online class discussion. The faculty member stated that the assets listed in the balance sheet of the IBM Corporation include computers that are classified as current assets as well as computers that are classified as noncurrent assets. In addition, the faculty member stated that investments in marketable securities of other corporations could be classified on the balance sheet as either current or noncurrent assets.

Explain the distinction between current and noncurrent assets pertaining to the IBM computers and the investments in marketable securities.

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