What is meant by current assets ? – InterviewSolution

InterviewSolution

1.

What is meant by current assets ?

Answer»

Current Assets : An asset shall be classified as current when it satisfies any of the following criteria:

It is expected to be realised in or is intended for sale or consumption in the company’s normal operating cycle.
It is held primarily for the purpose of being traded.
It is expected to be realised within twelve months after the reporting date.

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