Which of the following is an example of a non-cash current asset?

The example of a non-cash current asset is inventory. Inventory represents goods and materials that a business holds for the purpose of resale or production in the normal course of operations. It is classified as a current asset because it is expected to be converted to cash or sold within a year as part of the usual operating cycle of the business.

In contrast, cash is the most liquid asset that a company can hold and therefore does not qualify as a non-cash asset. Long-term investments are assets that a company intends to hold for more than one year, which excludes them from the current asset category. Property, plant, and equipment are tangible fixed assets that are used in the operations of a business and are also not considered current assets, nor are they classified as non-cash current assets.

Thus, inventory is the only item among the choices that meets the criteria of being a non-cash current asset, aligning with the definition and understanding of current assets in financial modeling.