Question

Q4. Which of the following is not a current asset ?
(A) Prepaid Expenses
(B) Debtors
(C) Furniture
(D) Bills Receivable​

Answer 1

Answer:

answer is - option c

Explanation:

furniture

Answer 2

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.