Question
Briefly explain Current Assets.
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Answer
Current Assets: These are the assets of business which are held for resale or for converting into cash. These are the assets which are likely to be realised within a period of one year or during the period of normal operating cycle. A business earns profit by sale of these assets but not by keeping them in hand.
Examples are unsold goods, debtors, bills receivable, bank balance, cash in hand, etc.
Examples are unsold goods, debtors, bills receivable, bank balance, cash in hand, etc.
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