Explain Working Capital
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Working Capital
Working Capital refers to the part of the firm's capital which is required for financing current assets , and to pay wages to the direct workers , to pay salaries to the indirect workers, to purchase raw materials, to meet the liabilities in time and to pay day to day expenses,etc... .
It is also known as 'Revolving or Circulating Capital' .
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Raw materials and money in hand are called working capital. Production requires a variety of raw materials such as the yarn used by the weaver and the clay used by the potter. They are used up in a single act of production.
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