Question : Which of the following is not covered under the current assets?

Option 1: Bank 

Option 2: Debtor

Option 3: Bills receivable

Option 4: Goodwill

Question : Which of the following is the correct formula for "Current Ratio"?

Option 1: Liquid Assets/Current Liabilities

Option 2: Current Assets/Current Liabilities

Option 3: Fixed Assets/Current Assets

Option 4: Liquid Assets/Current Assets

Question : Which of the following statements is not true with respect to liquid ratio?

Option 1: liquid ratio is considered more dependable than current ratio

Option 2: liquid ratio less dependable than current ratio

Option 3: Inventory is included in liquid assets

Option 4: Ideal liquid ratio is 1: 1

Question : Which of the following statements is not true with respect to liquid ratio?

Option 1: liquid ratio is considered more dependable than current ratio

Option 2: liquid ratio less dependable than current ratio

Option 3: Inventory is included in liquid assets

Option 4: Ideal liquid ratio is 1: 1

Question : Identify the assets which is not transferred to Realisation A/c from the following:

Option 1: Bills receivable

Option 2: Cash in hand/bank

Option 3: Goodwill

Option 4: Prepaid expenses