Current asset and current liabilities

Assets will be considered as current or long term that depends on the liquidity. As same as the liability is also depends on liquidity to define it as current liabilities or  long term liabilities. With definition of liquidity these assets can be termed as current asset these are about to convert into cash in nearby future. On the other hand these dues that have to pay within few times are also called current liabilities. In a balance sheet assets are listed in one side and in another side the liability and owners equity is listed. Few examples of current assets and current liabilities are given bellow. Cash is a current assets when it is
Prepared and available for companies operation. Cheque, currencies are an example of current assets. The cash which is not available in nearby transaction is not termed as current asset. Temporary investment such as securities, shares, debentures are current asset when it is available to sell when it is required for companies daily operations. Account receivables are current assets. The examples of current liabilities are accounts payable, acceptance and promisory note payable, accrued liabilities, estimated liabilities, contingent liabilities, etc.