PRC-1 · Chapter 10 · Question 90 of 100
Which of the following is considered a current asset?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Prepaid rent for the next 3 months.
Explanation
Current assets are items expected to be consumed, sold, or realized within 12 months. Prepaid rent represents a service to be consumed shortly, making it a current asset.
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