A firm has £300 in inventory,£600 in non-current assets,£200 in accounts receivables,£100 in trade payables,and £50 in cash.What is the amount of the current assets?

Question

Quizplus · Accepted Answer

Current assets are those that can be easily converted into cash within one year or one operating cycle of the company. The current assets in this scenario include inventory, accounts receivables, and cash, which amount to a total of £550 (£300 + £200 + £50). Therefore, the correct answer is Choice B (£550).

A Firm Has £300 in Inventory,£600 in Non-Current Assets,£200 in Accounts