The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as

  • A. Current assets
  • B. Fixed assets
  • C. Intangible assets
  • D. Investments

Answer: Option A

Detailed Answer

The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as Current assets. Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets.

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