x

Choose Country Code

x

Direction

x

Ask a Question

  • Ask a Question
  • Scan a Question
  • Post MCQ
  • Note: File extension must be of jpg, jpeg, png, bmp format and file size must not exceed 5 MB
x

Ask a Question

x

x
x
x
Hire a Tutor

Answers and Solutions

What's Your Question?
Answer

In accounting, a current asset is any asset which can reasonably be expected to be sold, consumed, or exhausted through the normal operations of a business within the current fiscal year or operating cycle (whichever period is longer). Typical current assets include cash, cash equivalents, short-term investments .

Answer
Current Assets are those assets which are expected to be realised in cash or in other words have the life of less than or equal to One Year.Examples of such assets are Stock,Debtors and Bills Receivable and so on.
Answer

Assets that can be reasonbly expected to be converted into cash within a short period of time are called current assets.

Current assets includes cash and cash equivalents, bills receivables, account receivables, inventories, trade investments etc.

Answer

current assets- means an assets which is held by  the business for a short period of time.

generally for one year.

FOR EXAMPLE- cash in hand , cash at bank , closing stock , debtors etc

Answer

Hi Nikhil,

Any asset which can be easily converted to cash, generally in one year, is considered as a Current Asset in the Balance Sheet.

eg : Cash in hand, Cash at Bank, Bills receivable,inventory (stock), Pre paid expenses etc.

They are sometimes referred to as Current Accounts also.

Regards,

Gokul

Post Answer and Earn Credit Points

Get 5 credit points for each correct answer. The best one gets 25 in all.

Post Answer