Question : Within which period the current assets of the company are expected to be realized?

Option 1: More than 1 years

Option 2: 1 year

Option 3: 6 months

Option 4: 3 months

Question : Which of the following statements is incorrect?

Option 1: Only those assets which are expected to be realized within a year should be included in current assets.

Option 2: Those liabilities, which are expected to be paid within a year, should be included in current liabilities. Those long-term loans and debentures, which will be due for payment within one year, are also included in current liabilities.

Option 3: Loose Tools, Patents, Goodwill, Trade Marks and Computer Software are not included in current assets.

Option 4: Bank Overdrafts should not be included in current liabilities.

Question : Which of the following statements is incorrect?

Option 1: Only those assets which are expected to be realized within a year should be included in current assets.

Option 2: Those liabilities, which are expected to be paid within a year, should be included in current liabilities. Those long-term loans and debentures, which will be due for payment within one year, are also included in current liabilities.

Option 3: Loose Tools, Patents, Goodwill, Trade Marks and Computer Software are not included in current assets.

Option 4: Bank Overdrafts should not be included in current liabilities.

Question : ---------------- are the assets which are likely to be converted into cash or cash equivalents within 12 months from the date of the Balance Sheet or within the period of an operating cycle. 

Option 1: Liquid Assets 

Option 2: Current Assets 

Option 3: Current liabilities 

Option 4: Total Assets 

Question : ---------------- are the assets which are likely to be converted into cash or cash equivalents within 12 months from the date of the Balance Sheet or within the period of an operating cycle. 

Option 1: Liquid Assets 

Option 2: Current Assets 

Option 3: Current liabilities 

Option 4: Total Assets