Question

What is the concept involved in classifying the assets into current and non-current assets?

Answer 1

The leading section is "current assets," which are short-term assets that can be converted into cash within one year or one operating cycle. ... Noncurrent assets are always classified on the balance sheet under one of the following headings: investment; property, plant, and equipment; intangible assets; or other assets.

Answer 2

here is the answer

The leading section is "current assets," which are short-term assets that can be converted into cash within one year or one operating cycle. ... Noncurrent assets are always classified on the balance sheet under one of the following headings: investment; property, plant, and equipment; intangible assets; or other assets.