Stock/Inventories is classified as ________.

Revenue

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Expenses

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Current Assets

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Fixed Assets

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Solution

The correct option is C Current Assets
Assets are classified in two parts i.e fixed assets and current assets. Current assets are Stocks , cash on hand, debtors etc. Current assets are those assets which are easily convertible in to cash in a short period of time i.e.12 months. Stock & inventories are part of current assets.

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