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Current assets are those assets which get converted into cash(a) within six months(b) within one year(c) between one year and three years(d) between three and five years |
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Answer» (b) Current assets are those assets which can be converted into cash or can be used to pay off liabilities within a time span of 12 months, i.e. one year. Some of the examples of current assets are cash, cash equivalents, inventories, debtors, bills receivables, etc. |
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