(Solved): The basis for classifying assets as current or noncurrent is the time normally required by the accou ...

The basis for classifying assets as current or noncurrent is the time normally required by the accounting entity to convert cash invested in tangible fixed assets back into cash, or 32 months, whichever is longer. receivabies back into cash, or 12 months, whichever is longer. inventory back into cash, or 12 months, whichever is longer. inveritory back into cash. or 12 months, whichever is shorter.