Loose tools account is which type of account
Asked by admin @ in Accountancy viewed by 531 People
What are loose tools and explain its treatment in final accounts?
Answered by admin @
Loose tools in accounting are also known as current assets, and will be typically found on any balance sheets that may be produced for your business. ... This term is used to describe how straightforward it would be to transform prepaid insurance and existing stock within your business into physical cash.
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