Which of the following are included in current assets?a. Prepaid rent b. Taxes payable c. Automobiles d. Common stock e. None of the above

The answer is A.

Explanation:

Current asset is an asset that has a life span of less than 12 months(a year). If its life span is more than a year or 12 months, then it is non-current asset.

Prepaid rent is a current asset. A rent usually lasts for a year. It is an advanced payment. The money has been paid but the service has not been fully enjoyed. So we treat it as a current asset

Option B is a current liability.

Option C is a non-current asset

Option D is an equity

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