The assets that can be converted into cash within a short period i e 1 year or less are known as ........

Accountancy (Phase -I & II) Company Final Accounts

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The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as

Current assets

Fixed assets

Intangible assets

Investments

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Explanation:

The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as Current assets. Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets.