Accounting for IGCSE & O level - Final Statements (Section 5 - No. 18)
What do we understand by 'Current Assets'?
Those assets that are not used within the accounting year.
Those assets that are being used now.
Those assets that will be used up relatively quickly within the next accounting year.
Those assets that do not involve cash.
Paliwanag
This is the definition of 'current assets' given in the text.