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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 Posted / 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 |
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