Current Assets

Assets which are easily converted into cash are called current assets. For example: cash, Debtors, inventory, Bills Receivable, Notes Receivable, Prepaid Expenses

'Current Assets'
1. A record account that represents the worth of all assets that are moderately expected to be born-again into money inside one year within the traditional course of business. Current assets embody money, assets, inventory, marketable securities, postpaid expenses and different quick assets that may be pronto born-again to money.

2. In personal finance, current assets are all assets that an individual will pronto convert to money to pay outstanding debts and canopy liabilities while not having to sell mounted assets.


1. Current assets are necessary to businesses as a result of there assets that are used to fund daily operations and pay current expenses. counting on the character of the business, current assets will vary from barrels of fossil fuel, to food, to foreign currency.

2. In personal finance, current assets embody money obtainable and within the bank, and marketable securities that aren't occupied in long-run investments. In different words, current assets ar something valuable that's extremely liquid.

Current assets
	Cash		$   2,100
	Petty cash		100
	Temporary investments		10,000
	Accounts receivable - net		40,500
	Inventory		31,000
	Supplies		3,800
	Prepaid insurance		1,500
		Total current assets	89,000