Which among the following statement is true? Current asset is held for trading in the normal course of business. A current asset that can be transferred into cash within three months is known as...

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Extracted text: Which among the following statement is true? Current asset is held for trading in the normal course of business. A current asset that can be transferred into cash within three months is known as current assets. Only statement (i) is correct. Neither of the statements are correct. Both statements are correct. Only statement (ii) is correct.