Common stock is sometimes a current asset. In order to qualify as a current asset, a cash return must be expected within one year. If the common stock that was purchased is expected to provide dividends or another return on investment within this period, then it is a current asset.
Current assets are any assets that can be converted into cash within a period of one year. This counts products that are sold for cash as well as resources that are consumed, used, or exhausted through regular business operations that are expected to provide a cash value return within a single year. Current assets reflect the ability of a company to pay its short term outstanding liabilities and fund day-to-day operations.