Concept:A current asset is a short-term asset that is expected to be converted into cash, sold, or used up within one year or within the normal operating cycle.
Explanation:Current assets have a life span of not more than one year.
They are not purchased for long-term use, so option A is incorrect.
They are real tangible or financial resources, not fictitious assets, so option C is incorrect.
Cash and cash equivalents are themselves current assets, so option D is incorrect.
The key feature of a current asset is that its value is expected to be realized or received within the current accounting period, ending on the balance sheet date.
This matches option B exactly.
Answer:B. expected to be realized within the balance sheet date.