loose tools are shown in the B/S under the head.
A)Fixed asset
B)Investment
C)Current asset
D)Miscellaneous expenditure

Question

Quizplus · Accepted Answer

Loose tools are considered a part of a company's current assets because they are tangible items that are expected to be converted into cash, sold, or consumed within a year or within the operating cycle of the business. They are not held for a long period like fixed assets, nor are they categorized as investments or miscellaneous expenditures.

Loose Tools Are Shown in the B/S Under the Head