The definition of a short term or current asset is cash and other assets that will turn to cash or will be used up or consumed within one year of the balance sheet date. If a company's operating cycle is longer than one year, the definition allows for assets turning to cash, used up, or consumed during the operating cycle to be reported as a current asset.
The present worth of a sum due sometime hence is Rs. 576 and the banker's gain is Rs. 16. The true discount is A. Rs. 36 B. Rs. 72 C. Rs. 48 D. Rs. 96
The banker's discount on a sum of money for 1 years is Rs. 558 and the true discount on the same sum for 2 years is Rs. 600. The rate percent is A. 10% B. 13% C. 12% D. 15%
The banker's discount on a bill due 4 months hence at 15% is Rs. 420. The true discount is A. Rs. 400 B. Rs. 360 C. Rs. 480 D. Rs. 320
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