AsthaLeader In: 1. Financial Accounting > Miscellaneous What are examples of current assets? What are examples of current assets? Share Facebook You must login to add an answer. Username or email* Password* Captcha* Remember Me! Forgot Password? Need An Account, Sign Up Here 1 Answer Voted Recent GautamSaxena Curious . 2022-08-18T19:31:02+00:00Added an answer on August 18, 2022 at 7:31 pm This answer was edited. Current Assets & Examples Current Assets are those assets that are bought by the company for a short duration and are expected to be converted into cash, consumed, or written off within one accounting year. They are also called short-term assets. These short-term assets are typically called current assets by the accountants and have no long-term future in the business. Current assets may be held by a company for a duration of a complete accounting year, 12 months, or maybe less. A major reason for the conversion of current assets into cash within a very short amount of time is to pay off the current liabilities. Examples Some of the major examples of current assets are – cash in hand, cash at the bank, bills receivables, sundry debtors, prepaid expenses, stock or inventory, other liquid assets, etc. All of these assets are converted into cash within one accounting year. Liquid assets are a part of current assets. Although they are easier to be converted into cash than current assets. Current assets (along with current liabilities) help in the calculation of the current ratio. And they’re also referred to as circulating/floating assets. Current assets are shown on the balance sheet (on the asset side) under the heading, current assets. Current assets on the balance sheet Balance Sheet (for the year…) 0 Share Share Share on Facebook Share on Twitter Share on LinkedIn Share on WhatsApp Related Questions What are some examples of deferred revenue expenses? Are brands intangible assets? What comes in debit side of Realisation account? What is recorded in the Realisation account? What is not included in Realisation account? What is recorded on the credit side of a Realisation account? Can accounts payable have a debit balance?