GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Stock in trade
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Sundry Debtors
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Stores & Spare parts
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All of the above
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Detailed explanation-1: -Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets. Current Assets may also be called Current Accounts.
Detailed explanation-2: -Fixed Asset: These are tangible or long-term assets that include buildings, land, fixtures, equipment, vehicles, machinery, and furniture. Therefore, the term “current asset” does not include Furniture.
Detailed explanation-3: -Cash and equivalents. Short-term investments (marketable securities) Accounts receivable. Inventory. Prepaid expenses. Any other liquid assets. 10-Feb-2021
Detailed explanation-4: -Cash and cash equivalents. Marketable securities. Accounts receivable. Inventory. Supplies. Prepaid expenses. Other liquid assets. 21-Jul-2022