Which of the following does NOT typically fall under current assets?

Current assets are resources that a company expects to convert into cash or use up within one year or one operating cycle, whichever is longer. They are crucial for the day-to-day operations of a business and include items that are easily liquidated to meet short-term obligations.

Accounts Receivable represents money owed to the business by customers for purchases made on credit and is expected to be collected within the normal operating cycle. Cash is the most liquid asset and is readily available for immediate use in transactions. Inventory consists of goods that are in stock and intended for sale, which will also be converted into cash within the operating cycle.

In contrast, land is categorized as a long-term asset. It does not fall into the category of current assets because it is not expected to be converted into cash or consumed within a year or the typical business cycle. Land is held for the long term and does not have a short-term liquid nature, making it part of fixed or non-current assets. This understanding of asset classification is fundamental to assessing a company's liquidity and financial health.