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Final Accounts of a Proprietary Concern — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyFinal Accounts of a Proprietary Concern1 Mark
Question
State the meaning of Current assets.
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Answer

Assets that are purchased with the intention of converting them into cash during the operating year are called current assets.
E.g. stock of goods.

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