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Please may you assist in clarifying a query I have with the BPP Exam Practice Kit.
The question gives a trial balance for a company and requires you to calculate the current assets.
In the answer, the total includes inventory and receivables but not cash and cash equivalents. Am I mistaken in thinking that cash and cash equivalents would make up a part of current assets?
It could be that the company’s bank balance is overdrawn, in which case it will be part of current liabilities.