The basis for classifying assets as current or non-current is conversion to cash within
A. the accounting cycle or one year, whichever is shorter.
B. the accounting cycle or one year, whichever is longer.
C. the operating cycle or one year, whichever is longer.
D. the operating cycle or one year, whichever is shorter.
Answer:C
The basis for classifying assets as current or non-current is conversion to cash within
A. the accounting cycle or one year, whichever is shorter. B. the accounting cycle or one year, whichever is longer. C. the operating cycle or one year, whichever is longer. D. the operating cycle or one year, whichever is shorter.