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he distinction between a current asset and other assets: A) is based on how long the asset has been owned. B) is based on amounts
he distinction between a current asset and other assets: | ||
A) | is based on how long the asset has been owned. | |
B) | is based on amounts that will be paid to other entities within a year. | |
C) | is based on the ability to determine the current fair market value of the asset. | |
D) | is based upon whether the asset is tangible or intangible. | |
E) | is based on when the asset is expected to be converted to cash, or used to benefit the entity. |
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