Question

what are current liabilities and provisions and net current assets in the balance sheet??

Answer 1

The current liabilities are - Creditors, Bills Payables, Bank Overdraft, Outstanding Expenses. (these are the common liabilities). The provisions are naturally to be adjusted with debtors, creditors, (basically with the current assets and liabilities). And lastly current assets are - Debtors, Bills Receivables, Stock, Prepaid Expenses, Short Term Investments (common these are).