current asset
Definition
Accounts receivables, inventory, work in process, cash, etc., that are constantly flowing in and out of a firm in the normal course of its business, as cash is converted into goods and then back into cash. In accounting, any asset expected to last or be in use for less than one year is considered a current asset. Also called circulating asset.
current asset is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
current asset appears in the definitions of the following terms:
marketable security,
average current assets,
circulating asset,
acid test ratio,
working capital,
current ratio,
inventory,
capital employed,
financial ratios,
net current assets
and
current asset appears in the other terms: current assets turnover, current assets to short-term debt ratio
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