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The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

Answer: Option A

Solution(By Examveda Team)

The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as Current assets. Current assets include cash, cash equivalents, accounts receivable, stock inventory, marketable securities, pre-paid liabilities, and other liquid assets.

This Question Belongs to Commerce >> Accounting

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Comments ( 4 )

  1. HARSHAL CHAUDHARI
    HARSHAL CHAUDHARI :
    3 years ago

    Golden rules of accounts :-
    1)personal account :- debit the receiver
    Credit the giver
    2)impersonal account :-
    i) real account :-
    Debit what comes in
    Credit what goes out
    ii) Nominal account :-
    Debit the expense and losses
    Credit the expense of income & gain

  2. Hussain Faizan
    Hussain Faizan :
    3 years ago

    current assets

  3. Rohini Hiremath
    Rohini Hiremath :
    4 years ago

    Which is the golden rules of account

  4. Apratim Ghosh
    Apratim Ghosh :
    6 years ago

    What is current assets?

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