Accounting for IGCSE & O level - Final Statements (Section 8 - No. 10)
What is the difference between current and non-current assets?
Current assets are more valuable than non-current assets.
Current assets are expected to be converted to cash within one year, non-current assets are not.
Non-current assets are always depreciated; current assets are not.
There is no difference; they are the same.
Explicaţie
Current assets are those expected to be realized (turned to cash) within one year or the company's normal operating cycle; non-current assets are not.