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
Options:
ABCD
BCDE
ABDE
ABCDE
Correct Answer:
ABDE
Explanation:
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