Question

Which of the following is classified as current assets?
Land.
Patent.
Office equipment.
Office supplies.
Unearned revenue.

Answer 1

Current assets are assets of the company that are expected to be sold or used as a result of standard business operations within the one year. Cash and cash equivalents, inventory, prepaid expenses, supplies are examples.

So office supplies is the only one in the above which comes under the current assets.

Land is a fixed assets which comes unded plant property and equipment. Patent is a non tangible assets. Office equipment also comes under property plant and equipment. Unearned revenue is a current liability because it is not earned.

Hence, option D is the correct answer.

SUMMARY:

Option D is the correct answer.