Q4. Which of the following is not a current asset ?
(A) Prepaid Expenses
(B) Debtors
(C) Furniture
(D) Bills Receivable
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Answer:
answer is - option c
Explanation:
furniture
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Furniture is not a current asset. (Option C)
- A company has assets that are classified as current because they are readily convertible to cash to carry out regular business operations.
- Such assets include cash and equivalents, debtors, bills receivable, and the prepaid expenses made by the firm.
- But furniture purchased for the business is considered a fixed asset and not current.
- It remains in the business for the long term.
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