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Which statement best explains Current asset?

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Question ID #27569 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC 2026 Full-Length Mock Test 10 Medium

Which statement best explains Current asset?

Correct Answer: D. Asset expected to be realized, sold or consumed within the operating cycle or specified short period
Current asset: Asset expected to be realized, sold or consumed within the operating cycle or specified short period

Question: Which statement best explains Current asset?

A. Estimate of receivables that may become uncollectible

B. Receivable considered irrecoverable

C. Statement reconciling differences between bank balance per books and bank statement

D. Asset expected to be realized, sold or consumed within the operating cycle or specified short period

Correct Answer: D. Asset expected to be realized, sold or consumed within the operating cycle or specified short periodCurrent asset: Asset expected to be realized, sold or consumed within the operating cycle or specified short period

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Which statement best explains Current asset? - MCQ Explanation

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Correct answer: D. Asset expected to be realized, sold or consumed within the operating cycle or specified short period