Question

Current assets are those assets which get converted into cash

Options

• within six months

• within one year

• between one year and three years

• between three and five years

Answer 1

within one year

Explanation - 

 Current assets are assets that can be turned into cash or used to pay off liabilities within a 12-month period, i.e. one year. Cash, cash equivalents, inventories, debtors, bills receivables, and other current assets are examples.