Current Assets basically are a group of assets that are liquid e.g. Cash or are expected to be converted into cash within one year of the date of acquisition generally. Current assets are highly liquid assets and are generally Cash, Cash Equivalents, Marketable Securities, Inventory, Accounts Receivable etc.
The basis of arranging the individual items within the current assets section is the liquidity of the assets, highly liquid assets come first then so on. For Example:
1) Cash
2) Accounts Receivable
3) Inventory
This is how items can items can be arranged based on the liquidity, cash being the most liquid asset and so on.
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