Current assets are assets that:

• A. Mature in less than one year
• B. Mature in more than one year
• C. Have depreciation
• D. Are intangible

Answer: (A)

Current assets are resources expected to be converted into cash or used up within one year or the operating cycle. This includes items like cash, accounts receivable, inventory, and prepaid expenses. They are distinguished from non-current assets, which provide benefits over longer than a year (such as property, plant and equipment, or long-term intangibles). Depreciation relates to allocating the cost of long-term tangible assets over their useful lives, not to current assets. Intangible assets are typically long-term as well, though some might be short-term in specific cases, but the standard definition of current assets focuses on the short-term conversion timeframe. Therefore, maturing in less than one year best captures the essence of what current assets are.