Which of the following is typically included in current assets?

Current assets are assets that a company expects to convert into cash or use up within one year or within its operating cycle, whichever is longer. Inventories are included in current assets because they represent goods that are available for sale in the normal course of business and will typically be sold within that one-year timeframe.

In contrast, land and buildings are considered long-term assets because they are not intended to be sold or consumed within a year. Accounts payable, while a part of current liabilities, do not belong to current assets as they represent obligations or debts owed by the company. Long-term investments also fall outside current assets since they are meant to be held for more than one year and are not expected to be liquidated in the near term. Thus, inventories being classified as current assets aligns with the definition and typical characteristics of assets that are intended for short-term conversion to cash.