PRC-1 · Chapter 10 · Question 2 of 100
The following list of assets relates to Bizcom Enterprises: Prepaid Expenses Rs. 41,500; Cash in hand Rs. 22,800; Fixtures Rs. 72,300; Inventories Rs. 87,500; Bank overdraft Rs. 11,650; Receivables Rs. 66,350. What is the total of current assets?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Rs. 218,150
Explanation
Current assets include Prepaid Expenses (41,500) + Cash in hand (22,800) + Inventories (87,500) + Receivables (66,350) = Rs. 218,150. Fixtures are non-current assets, and Bank overdraft is a current liability.
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