Which of the following should NOT be considered current assets in the statement of financial position?
A. instalment notes receivable due over eighteen months, in accordance with normal trade practice
B. prepaid taxes, which cover assessments for the current year
C. equity or debt securities purchased with cash available for current operations
D. franchises and copyrights
Answer:D
Which of the following should NOT be considered current assets in the statement of financial position?
A. instalment notes receivable due over eighteen months, in accordance with normal trade practice B. prepaid taxes, which cover assessments for the current year C. equity or debt securities purchased with cash available for current operations D. franchises and copyrights