BUISENESS MANAGEMENT
RECORD KEEPING
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Current assets
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Non-current assets
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Current liabilities
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Non-current liabilities
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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: -Is cash a current asset? Yes, cash is a current asset, as are “cash equivalents” or things that can quickly be converted into cash, like short-term bonds and investments and foreign currency.
Detailed explanation-3: -Examples of current assets include: Cash or cash equivalents. Money in immediately accessible bank accounts (such as checking or savings accounts) Accounts receivables.
Detailed explanation-4: -Current assets include cash, accounts receivable, inventory, marketable securities, prepaid expenses and other liquid assets that can be readily converted to cash.
Detailed explanation-5: -Cash on hand is considered the most liquid type of liquid asset since it is cash itself. Cash is legal tender that an individual or company can use to make payments on liability obligations.