Which of the following items will be presented on the CURRENT assets side of the balance sheet of the company?
A) Sundry debtors
B) Loose tools
C) Live stock
D) Goods in transit
E) Prepaid expenses
Answer & explanation
Correct answer: option 3
A) Sundry debtors - TRADE RECEIVABLES -CURRENT
B) Loose tools- INVENTORIES-CURRENT
C) Live stock- TANGIBLE ASSET- NON-CURRENT
D) Goods in transit- INVENTORIES-CURRENT
E) Prepaid expenses- OTHER CURRENT ASSET-CURRENT