Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Financial Statements of a Company

Question:

Which of the following items is shown under the head 'Current assets' while preparing the company's Balance Sheet?

Options:

Investment in Property

Patents

Inventories

Vehicles

Correct Answer:

Inventories

Explanation:

Current Assets include:
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short term loans and advances
(f) Other current assets

* Investment in Property, Patents, Vehicles are non-current assets.