Examples of external transactions includAn asset that is generally expected to be converted to cash or consumed within one year or the operating cycle, whichever is longer, is: (A) Noncurrent asset. (B) Intangible asset. (C) Current asset. (D) Depreciable asset.e all of the following except? (A) Paying employee salaries. (B) Purchasing equipment using cash. (C) Depreciating equipment. (D) Collecting a receivable. (E) Borrowing capital from a local bank