From the following list, indicate all statements that are correct with regards to assets Accounts receivable differs from notes receivable in that notes receivable are generally interest bearing Mb. Supplies are goods such as food products, clothing housewares, appliances, and outdoor products held for resale to customers. c. There is no difference between Cash and cash equivalents. Vid. Prepaid expenses are current assets because they reflect unused benefits for rent or insurance coverage that will normally be used up within the next year. The terms non-current and long-term are used interchangeably to describe assets Held for trading investments are normally non-current assets Ms North American companies normally list current assets in the order in which they are expected to be converted into case that is in their order of liquidity