Question

The assets that can be easily converted into cash within a short period, i.e., 1 year or less are known as

A) Current assets

B) Fixed assets

C) Intangible assets

D) Investments​

Answer 1

A) current assets


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Answer 2

Answer:

A) Current assets.

The assets that can be easily converted into cash within a short period i.e. 1 year or less are known as Current Assets.

Explanation:

Current assets will be having high liquidity. Therefore, termed as liquid assets.

Current assets and current liabilities play a vital role in calculation of working capital.

Current assets are assets were liquidity is high for the period of one operating cycle i.e. less than 12 months.