For the typical company, current assets include:

Multiple Choice

assets that must be fully paid for within one year from the balance sheet date $($or operating cycle, if longer$).$

assets that will be used up over a period that includes many years.

assets that are cash, will be converted into cash, or will be used up within one year from the balance sheet date $($or operating cycle, if longer$).$

all assets that were purchased using cash.