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If you are making a transaction of Cash Purchase on 30th
March and your accounting period ends on 31st March. Does it
affect the Current Asset of the Company?
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Answer / ram
NO,it doesn't effect current assets,because once cash
purchase is done,cash balance will be reduced as well as
inventory balance will be increased. (i.e net effect of
current assets remain unchanged).
| Is This Answer Correct ? | 16 Yes | 0 No |
Answer / khalid
No, It doesn't effect the total current asset. But it
affect the cash balance & stock.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / dhatchayani
No, it will not as when a cash purchase is made, cash value
reduces and inventory value increases, by making a contra
effect between cash and inventory that are items of current
assets.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / veeranna
yes, it will effect the current asset of the company.
| Is This Answer Correct ? | 3 Yes | 3 No |
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