Account Receivables and Inventory are the example of:
a) In a Profit & Loss account.
b) In a Profit & Loss appropriate account
c) On the asset side of statement of Financial Position.
d) In trading accounts.
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In trading accounts number (c) option
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Accounts receivable & inventory are the examples of Current 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 expenses.
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