1. which should be classified as current assets?

Trade accounts receivable normally collectible in 18 months

Cash for the redemption of preference shares
Cash surrender value
A deposit on machinery ordered within six months
2. Which should not be considered as a current asset?
Cash surrender value
Installment accounts receivable due over 18 months in accordance with normal trade practice
Prepaid insurance
Financial asset held for trading
3. Current assets should never include
Goodwill arising in a business combination
A receivable not collectible within one year
Current tax asset
Premium paid on a bind investment
4. Equity investments held to finance construction of additional plant should be classified as
Noncurrent investments
5. Which of the following is not a noncurrent investment?
Franchise
Cash surrender value
Land held for speculation
A sinking fund