Which of the following is an example of a current asset?

Cash is classified as a current asset because it represents liquid funds that are readily available for use in the short term, typically within one year. Current assets are defined by their liquidity and ability to be converted into cash or consumed within a short timeframe. Cash serves as the most liquid asset, immediately usable for operations, purchasing goods, or settling liabilities.

The other options are categorized differently. Property, for instance, is generally considered a long-term asset since it is not easily converted into cash and is intended for use over a longer period. Long-term investments, by their nature, are also assets that are not expected to be sold or converted into cash within the year. Intellectual property, while an asset, usually falls under intangible assets and is not categorized as a current asset because it typically represents a long-term investment in the company's innovation and is not easily liquidated. Hence, cash distinctly stands out as a current asset among the options provided.