Download App

Financial Statements of Sole Proprietorship — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountFinancial Statements of Sole Proprietorship1 Mark
Question
What do you understand by Current Assets?
✓

Answer

Current Assets are those assets of business which are kept temporarily for resale or for converting into cash.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "1 Marks Question" from Financial Statements of Sole Proprietorship→Financial Statements of Sole Proprietorship — all question types→Account STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

What is meant by Provision for Discount on Debtors?
→
Give two examples of Direct Expenses.
→
What are the classification of errors?
→
What is an opening entry?
→
What is the adjustment entry passed for provision for discount on Creditors?
→
“Under the liquidity approach, assets which are most liquid are presented at the top of the balance sheet”. Do you agree?
→
On 1st April, 2015, Grand Ltd. purchased a machinery for ₹ 3,00,000 and incurred ₹ 21,000 towards freight and insurance, ₹ 3,000 towards carriage inwards and ₹ 6,000 towards installation charges. It has estimated that the machinery will have a scrap value of ₹ 30,000 at the end of the useful life which is four years. What will be the annual depreciation and the value of machinery after four years according to the Straight Line Method? Ignore GST.
→
Calculate Sales:
Cost of goods sold ₹ 2,00,000
Cost of goods sold  
→
Give two uses of Electronic Spread Sheet.
→
State any two reasons of difference between Cash Book and Bank Pass Book balances.
→