Answer / Santosh Saraswat

1. The main difference between Current Assets and Fixed Assets is that current assets are short-term assets, which can be converted into cash within one year or less, while fixed assets are long-term assets, such as buildings and equipment, which have a useful life of more than one year.
2. Working capital Management refers to the management of a company's current assets (cash, inventory, accounts receivable) and current liabilities (accounts payable, short-term debt). Proper working capital management is essential for ensuring a business has enough cash on hand to meet its day-to-day operating needs. Steps required for working capital management at the start of any type of business include identifying and categorizing assets and liabilities, setting appropriate credit policies, establishing inventory control procedures, and monitoring financial reports regularly.

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