Calculate current liabilities from the a

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Target Exam

CUET

Subject

-- Accountancy Part B

Chapter

Accounting Ratios

Question:

Read the following information and answer the question.

PARTICULARS	AMOUNT ( ₹)
Cost of revenue from operations	18,00,000
Inventory	3,60,000
Trade receivables	1,70,000
Marketable securities	50,000
Cash and bank balance	20,000
Trade payables	1,40,000
Provision for tax	10,000

Calculate current liabilities from the above information.

Options:

₹1,00,000

₹1,20,000

₹1,50,000

₹1,80,000

Correct Answer:

₹1,50,000

Explanation:

The correct answer is option 3- ₹1,50,000.

Current liabilities = Trade payables + Provision for tax
= 1,40,000 + 10,000
= ₹1,50,000