CURRENT ASSETS Definition

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CURRENT ASSETS are those assets of a company that are reasonably expected to be realized in cash, or sold, or consumed during the normal operating cycle of the business (usually one year). Such assets include cash, accounts receivable and money due usually within one year, short-term investments, US government bonds, inventories, and prepaid expenses.

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LETTER OF INTENT (LOI) is a document that describes the preliminary understanding between parties who intend to make a contract or join together in another action.

CASHIERS CHECK; also known as a bank check, official check, tellers check, bank draft or treasurers check; is a check guaranteed by a bank. They are normally treated as cash because most banks clear them instantly.

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