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Which of the following is not counted as Current Assets?
Question

Which of the following is not counted as Current Assets?

A.

Cash in hand

B.

Bill receivable

C.

Bill payable

D.

Debtors

Correct option is C

An asset shall be classified as current when it is expected to be realized within twelve months after the reporting date. Example of Current Assets are Cash in hand, Bills Receivable, Debtors, Goods in transit. Bill Payable is Current Liability for a business organisation.

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