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English definition of “current asset”

current asset

noun [usually plural]     (also circulating asset)
FINANCE, PRODUCTION an asset such as cash, raw materials, parts, or products that are still being made, which a company will use up or sell during the same year: Some current assets are needed to maintain company operations and would not normally be available to meet short-term obligations. The company's current asset level is up from $2.9 billion at the start of the year. → Compare fixed asset, capital asset
(Definition of current asset noun from the Cambridge Business English Dictionary © Cambridge University Press)
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