This conflicting concept confused me:
In Schweser we all know that Net working capital = Current asset – current liab (excluding cash and portion of current debt).
In mock AM 2011 Q51 when computing net WC, they got it as Current asset – current liabilies (include all cash and notes payable).
Is this a mistake? Notes payable is supposedly interest bearing and should not be counted in working cap (for operation). Also, cash should not be counted as working cap