Closing stock and sundry debtors are examples of:Question 4Answera.Fixed assetsb.Fictitious assetsc.Current assetsd.None of the above
Question
Closing stock and sundry debtors are examples of:Question 4Answera.Fixed assetsb.Fictitious assetsc.Current assetsd.None of the above
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Solution 1
The answer is c. Current assets.
Step by step explanation:
- Closing stock: This refers to the inventory that a business has on hand at the end of its fiscal year. It includes all goods that are ready for sale. It is considered a current asset because it can be easily converted into cash within Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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Rs. 100 000 should be written off from debtors and allowance for doubtful debt on 2021.12.31 shouldbe adjusted as 10% of closing trade receivable
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