(a)cash and trade debtors(b)cash and trade creditors(c)trade debtors, trade creditors and cash(d)trade creditors and trade debtors
EXPLANATION:
What are current assets ?
In accounting, a current asset is any asset which can reasonably be expected to be sold, consumed, or exhausted through the normal operations of a business within the current fiscal year or operating cycle or financial year.
Examples of Current Assets
1. Accounts Receivable 2. Inventory 3. Prepaid Expenses 4. Closing stocks 5. cash in hand 6. cash in bank 7. Trade debtors 8. Accured income
Why are Current Assets -Current?
Current assets are assets that can be converted into cash within one fiscal year or one operating cycle. Current assets are used to facilitate day-to-day operational expenses and investments.
As a result, short-term assets are liquid, meaning they can be readily converted into cash and used to pay for bills and obligations due in the short-term
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