Comprehension:Consider the following account balance particulars of a firm:ParticularsAmount (Rs.)Inventories 50,000 Trade Receivables 50,000 Advance - CUET Accountancy MCQ CUET Accountancy 2025 13 May Shift 1 2026 | ExamTest.live

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Comprehension:Consider the following account balance particulars of a firm:ParticularsAmount (Rs.)Inventories 50, 000 Trade Receivables 50, 000 Advance Tax 4, 000 Cash and Cash Equivalents 30, 000 Trade Payables 1, 00, 000 Bank overdraft 4, 000 Question: Quick Assets of the firm are:

Solution & Step-by-step Explanation

Quick Assets represent highly liquid assets that can be converted into cash almost immediately. They exclude Inventories and Advance Tax from Current Assets. Quick Assets = Trade Receivables + Cash and Cash Equivalents Quick Assets = 50, 000 + 30, 000 = Rs. 80, 000

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Comprehension:Consider the following account balance particulars of a firm:ParticularsAmount (Rs.)Inventories 50, 000 Trade Receivables 50, 000 Advance Tax 4, 000 Cash and Cash Equivalents 30, 000 Trade Payables 1, 00, 000 Bank overdraft 4, 000 Question: Quick Assets of the firm are:

Rs. 1, 34, 000

Rs. 84, 000

Rs. 80, 000

Rs. 30, 000

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