Question

3. Explain the following with examples
Current
Assets
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Answer 1

Answer:

Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets. Current assets are important to businesses because they can be used to fund day-to-day business operations and to pay for the ongoing operating expense

Answer 2

Answer:

Current assets:

The asset which Can be converted into cash within a period of 12 months is called current asset.

Example: stock, Debtors etc..

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