Question

000 Non current assets
Current Assets
2
Bank
Debtors
Bills receivables
Stock
8,000 Sundry creditors
10,000 Bills payable
64,000 Outstanding expenses
32,000 Provision for tax
1,00,000 Provision for doubtful deas
8,000
2,22,000
32,00
2x
Prepaid expenses
1,892,800
Calculate Current Ratio and Quick Ratio from the following information:​

Answer 1

Explanation:

Current assets are all the assets of a company that are expected to be sold or used as a result of standard business operations over the next year. Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets.