Assets are held for the purpose of___________
Resale
Personal purpose
Earning revenue
Conversion into cash
Option c) Earning revenue.
The ratio of Current Assets (Rs. 3,00,000) to Current Liabilities is 2.4 : 1. The accountant of this firm is interested in maintaining a current ratio of 2 : 1 by acquiring some Current Assets on Credit. You are required to suggest him the amount of current assets which be acquired for his purpose.