Question

1. A current asset that can be transferred into
cash within three months is known as
a) Cash equivalent
b) Intangible asset
c) Operating asset
d) Cash asset​

Answer 1

Answer:

a) Cash equivalent

A current asset that is convertible to cash within 3 months can be referred to as Cash equivalent. Cash and cash equivalents refer to the line item on the balance sheet that reports the value of a company's assets that are cash or can be converted into cash immediately.