Question

Current asset do not include:
(a) Debtors. (b) Motor car
( c) Bank balance. (d) Prepaid expenses

Answer 1

Current asset do not include:

(d) Prepaid Expenses

Hope its helpful..!!!!

Answer 2

Current assets do not include (b) Motor cars.

• Current assets means those assets which are expected to be sold within one year
• It would include cash, cash equivalents, debtors, prepaid assets or any other liquid assets
• Current assets can be easily sold and consumed and can be easily converted into liquid cash
• Current assets are valued at cost or net realisable value whichever is lower