Those assets which are available or can be made readily available to meet the cost of operations or to pay current liabilities. Some examples are cash, temporary investments, and taxes receivable which will be collected within about a year from the balance sheet date.
All assets apart from fixed assets. Usually assets which have been acquired with the intention of converting them into cash or cash itself, e.g. stocks, debtors, short term investments, cash balances.
Current assets are assets that normally would be convertible into cash within the accounting cycle, usually one year. They include: stocks, debtors, and short-term deposits.