Final answer:
Current assets on a balance sheet do not include long-term investments as they are not expected to be liquidated or turned into cash within the short-term period defined for current assets. The correct option is C.
Step-by-step explanation:
The current assets on a balance sheet include items that are expected to be converted into cash, sold, or consumed within a year or within a business's operating cycle, whichever is longer.
Current assets typically include cash and cash equivalents, receivables, inventory, and prepaid expenses. Within these categories, you will find items like coins and currency in circulation, and prepaid insurance which are expected to be used or converted to cash within the short term.
However, long-term investments are not included in current assets because they cannot be easily liquidated or are not expected to be turned into cash within the short-term period defined for current assets. These would include investments in other companies, real estate, or any other assets expected to be held for more than one year. Therefore, the answer to the question is C. long-term investments.