Indicate whether each of the following would be reported in the financial statements as a (a) current asset, (b) current liability, (c) revenue, or (d) expense:

Financial Statements

Reports detailing the financial performance, position, and cash flows of a business over a specific period.

Current Asset

Resources anticipated to be turned into cash, disposed of, or used up within a period of one year or the duration of the business's operational cycle, depending on which timeframe extends further.

Current Liability

A financial obligation that is due within one year or within the normal operating cycle of a business, which typically includes accounts payable, short-term loans, and accrued liabilities.