Q44.List out the items that are excluded from the list of Current Assets while calculating current ratio what are the items
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Current ratio = Current assets/ Current liabilities
Current assets include inventories, sundry debtors, cash and bank balances,receivables, loans and advances, disposable investments etc.
Current liabilities include creditors, short term loans, bank overdraft, cash credit, provisions, outstanding expenses etc.
Furniture is a fixed asset and it is not included in current assets. Hence while calculating the current ratio furniture is not taken into account.
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