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Which of the following is not correct about assets? Multiple Choice Current assets are assets...

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Accounting

Which of the following is not correct about assets?
Multiple Choice
Current assets are assets that can be transformed into cash within the next year.
Deferred rent is an example of an asset.
Probable future economic benefits owned by an entity as a result of past transactions.
Intangible assets have no physical substance but has a long life.
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