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Category > Accounting Posted 15 Feb 2019 My Price 6.00

ACC 400 Current And Non Current Assets

ACC 400 Current And Non Current Assets Current and Noncurrent Assets ACC/400 A balance sheet is a statement that summarizes the assets, liabilities, and shareholders’ equity at a specific point in time of a company (“Investopedia,” 2013). Balance sheets reflect financial health of a company at the end of a fiscal period. Assets are items of value to an organization and can be tangible, physical items or intangible items with no physical form. Assets are divided into two categories, current and noncurrent. Both are a vital part of a company’s financial statements. The following focuses on comparing and contrasting the two categories of assets. Current Assets Current assets are included on a company’s balance sheet. Current assets are “a balance sheet account that represent the value of all assets that are reasonably expected to be converted into cash within one year in the normal course of business” (“Investopedia,” 2013). These assets include “cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other liquid assets that can be readily converted to cash” (“Investopedia,” 2013). These assets are arranged on a balance sheet in descending order. Day-to-day operations and expenses are paid for with current assets. Current assets in personal finance include cash on hand and “anything of value that is highly liquid” (“Investopedia,” 2013). Noncurrent Assets

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SmartExpert
(118)
Status NEW Posted 15 Feb 2019 03:02 AM My Price 6.00

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Attachments

file 1550202050-ACC 400 Current And Non Current Assets.docx preview (892 words )
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