Question : Items excluded from Current Assets while calculating the current ratio are
Option 1: Loose Tools
Option 2: Stores and Spares
Option 3: Provision for Doubtful Debts
Option 4: All of the above
Answer (1)
27th Jan, 2024
Correct Answer: All of the above
Solution : Answer = All of the above
All of the above items, Loose Tools, Stores and Spares, and Provision for Doubtful Debts, are excluded from current assets when calculating the current ratio. These items are not readily convertible to cash within the short term.
Hence, the correct option is 4.
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