Skip to content

Practice question

Question

There are two statements marked as Assertion (A) and Reason (R). Read the statements and choose the appropriate option from the options given below.
Assertion (A): Inventories and prepaid expenses are not considered as quick assets.
Reason (R): Inventories take some time before it is converted into cash while prepaid expenses can be converted into cash.

Options

Choose one · Correct answer highlighted

Explanation

Assertion (A) is true, but Reason correct accounting fundamental; capital revenue classification per accounting principles.

Discussion

Comments

0 comments

No comments yet. Be the first to start the discussion.