Which of the following items are current assets?
...Which of the following items are current assets?
Stock, bills receivable, cash and debtors
Stock, bill payable, cash and debtors
Stock, bad debt, bills receivable and cash
Stock, work-in-progress, cash and bills payable
Correct answer is A
Current assets include cash and other assets that are expected to be converted to cash within a year. Option A ''Stock, bills receivable, cash and debtors'' is correct.
- Stock are goods bought for the purpose of resale
- Bills receivable are incurred as a result of credit sales
- Cash is the available money at hand
- A debtor is a person, company, or other entity that owes money.
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