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What is loose tools?explain in brief


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https://www.meritnation.com/ask-answer/question/what-is-loose-tools-and-why-it-is-not-included-in-inventory/accounting-ratios/9815361
 

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Loose Tools are Current Assets, with high turnover. unlike other Assets these toolsgo useless very fast, besides they are used in production of something else with direct process. Example: Screw drivers. 876 Views · 2 Upvotes .
 
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