JAMB Accounts Principles of Accounts 2011 Paper

Concept:Current assets are assets that can be converted to cash or used up within one year.Explanation:From the list:i) Stock of goods — current assetii) Furniture — non-current assetiii) Creditors — current liabilityiv) Cash at bank — current assetv) Loan from the bank — liabilityTherefore, the current assets are stock of goods and cash at bank.Answer:D. i and iv