A. Stock, bills receivable, cash and debtors B. Stock, bill payable, cash and debtors C. Stock, bad debt, bills receivable and cash D. Stock, work-in-progress, cash and bills payable
Correct Answer: A
Explanation
Current assets include cash and other assets that are expected to be converted to cash within a year. Option A ''Stock, bills receivable, cash and debtors'' is correct. - Stock are goods bought for the purpose of resale - Bills receivable are incurred as a result of credit sales - Cash is the available money at hand - A debtor is a person, company, or other entity that owes money.
