📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

     Which of the following accounts for least likely a

    current asset?
    A Trade receivables Correct Answer Incorrect Answer
    B Prepaid expenses Correct Answer Incorrect Answer
    C Strategic investments Correct Answer Incorrect Answer
    D Inventory Correct Answer Incorrect Answer
    E All are current assets Correct Answer Incorrect Answer

    Solution

    Strategic investments are considered long-term investments, they take time to generate cash, not in the short term like current assets.

    Practice Next
    More Audit Questions

    Relevant for Exams:

    ask-question