Question

Define following÷
1.Working Capital
2.Current Assets
3.Current Liabilities

Answer 1

Answer:

(3)Current liabilities are typically settled using current assets, which are assets that are used up within one year. Current assets include cash or accounts receivables, which is money owed by customers for sales.(1)

Explanation:

4 Main Components of Working Capital – Explained!

Cash Management: Cash is one of the important components of current assets. ...

Receivables Management: The term receivable is defined as any claim for money owed to the firm from customers arising from sale of goods or services in normal course of business. ...

Inventory Management: ...

Accounts Payable Management:

(2)

Other current assets (OCA) is a category of things of value that a company owns, benefits from, or uses to generate income that can be converted into cash within one business cycle. ... The OCA account is listed on the balance sheet and is a component of a firm's total assets

Answer 2

Answer:

1. the capital of a business which is used in its day-to-day trading operations, calculated as the current assets minus the current liabilities.

2. cash and other assets that are expected to be converted to cash within a year.

3. amounts due to be paid to creditors within twelve months.

Explanation:

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