Wiktionary
n. (context accounting English) An asset on the balance sheet which is expected to be sold or otherwise used up in the near future, usually within one year, or one business cycle - whichever is longer, such as cash, accounts receivable, and inventory.
Wikipedia
In accounting, a current asset is any asset which can reasonably be expected to be sold, consumed, or exhausted through the normal operations of a business within the current fiscal year or operating cycle (whichever period is longer). Typical current assets include cash, cash equivalents, short-term investments, accounts receivable, stock inventory and the portion of prepaid liabilities which will be paid within a year.
On a balance sheet, assets will typically be classified into current assets and long-term assets.
The current ratio is calculated by dividing total current assets by total current liabilities. It is frequently used as an indicator of a company's liquidity, its ability to meet short-term obligations.
Usage examples of "current asset".
The yield based on current market value isn't so great, like four point seven percent, but because it is computed on a current asset value of eight hundred and seventy-seven thousand, she'll get a little over forty-one thousand a year taxable income.