Multiple choice general knowledge

Select appropriate Current Assets?

  1. Inventory

  2. Debtors

  3. Bills Payable

  4. Cash and bank

  5. misc Expenditure

  6. bills receivable
Reveal answer Fill a bubble to check yourself
A,B,D,F Correct answer
Explanation

Current assets are assets expected to be converted to cash within one year. Inventory (stock), Debtors (accounts receivable), Cash and Bank balances, and Bills Receivable are all current assets. Bills Payable is a liability (not an asset), and Miscellaneous Expenditure (preliminary expenses, discount on issue) is a fictitious asset written off over time, not a current asset.

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