________ is not included in current assets.

60 days bill receivable

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Short term deposit with bank

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Imprest Rs. 500 with cashier

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Preliminary expenses

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Solution

The correct option is D Preliminary expenses
Current Assets are those assets which arises in the business due to regular business operations. This are fluctuating and changes with each business transactions. Sundry Debtors, Inventory, Cash on Hand, Cash at bank are the examples of current assets.

Preliminary expense are those which are incurred in the business before incorporation and commencement of the business. A part of these expenses are debited every year to profit & loss account. Preliminary expenses are shown in assets side of the balance sheet under the heading "other assets".

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