which of the following items is not classified as a current asset? multiple choice office equipment. prepaid…
which of the following items is not classified as a current asset? multiple choice office equipment. prepaid rent. merchandise inventory. office supplies.
Answer
Brief Explanations:
Current assets are assets expected to be converted to cash, sold, or consumed within one year or the operating cycle. Prepaid rent, merchandise inventory, and office supplies meet this criterion. Office equipment is a long - term asset used over multiple years and not a current asset.
Answer:
A. Office equipment