Give an example of five assets (two non-current and three current) that a business might own, and which would be recorded in its balance sheet at its accounting year end.Explain why each of the five assets should be treated/classified as either a non-current asset or a current asset.
a.To answer the (a) sub-questions that follow you must think about the financial position and financial performance of a small local sole trader that has one owner/manager and no more than 3 full-time employees. If you can, answer the questions in the context of a real business you are aware of. If not, use the […]