is not a current asset.

Inventory

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Prepaid expense

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Furniture

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Cash balance

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Furniture
Furniture is not a current asset. Furniture gives the benefit for the long term, and hence it is a fixed asset.

Suggest Corrections

Similar questions

Q. From the Balance Sheet given below, calculate:
(i) Fixed Assets
(ii) Current Assets
(iii) Current Liabilities
(iv) Working Capital

Balance Sheet as at 31^st March, 2018
Liabilities	₹	Assets	₹
Trade Creditors	42,000	Stock in Hand	48,000
Expenses Accrued	3,200	Debtors	36,000
Bank Overdraft	4,800	Prepaid Expenses	400
Long-Term Loan	20,000	Goodwill	20,000
Interest on Loan	1,000	Land	20,000
Capital	93,400	Plant	32,000
		Furniture	8,000
	1,64,400		1,64,400

In some cases, the items presented under the “non-current” head of the Balance Sheet do not have a corresponding “current” head especially for Assets.

Q. Current Assets are disclosed in the balance sheet at _______________.

Q. ______ is not a current asset.

Q. From the Balance Sheet given below, calculate:
(i) Fixed Assets (ii) Current Assets
(iii) Current Liabilities (iv) Working Capital

BALANCE SHEET as at 31^st March, 2019
Liabilities	₹	Assets	₹
Trade Creditors	42,000	Stock in Hand	48,000
Expenses Accrued	3,200	Debtors	36,000
Bank Overdraft	4,800	Prepaid Expenses	400
Long-Term Loan	20,000	Goodwill	20,000
Interest on Loan	1,000	Land	20,000
Capital	93,400	Plant	32,000
		Furniture	8,000
	1,64,400		1,64,400

Join BYJU'S Learning Program

is not a current asset.

The correct option is C FurnitureFurniture is not a current asset. Furniture gives the benefit for the long term, and hence it is a fixed asset.

The correct option is C Furniture
Furniture is not a current asset. Furniture gives the benefit for the long term, and hence it is a fixed asset.