Total current assets definition
/Total current assets is the aggregate amount of all cash, receivables, prepaid expenses, and inventory on an organization's balance sheet. These assets are classified as current assets if there is an expectation that they will be converted into cash within one year. A sample presentation of total current assets in a balance sheet appears in the following exhibit.
The total amount of current assets is frequently compared to total current liabilities, to see if there are sufficient assets available to pay for the obligations of a business.