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...

Nearby Terms

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z