The correct answer is option D: Outstanding Expenses are current assets.

Explanation:

a) Goodwill is an intangible asset:
Goodwill represents the value of a company's brand name, reputation, customer base, and other intangible assets that contribute to its ability to generate future earnings. It arises when a company acquires another company and pays a price premium over the fair value of its identifiable net assets. Goodwill is recorded as an intangible asset on the balance sheet.

b) Sundry debtors are current assets:
Sundry debtors are amounts owed to a company by its customers or clients for goods or services provided on credit. They represent the company's accounts receivable and are classified as current assets because they are expected to be collected within a year.

c) Loose tools are tangible fixed assets:
Loose tools are physical assets used by a company in its day-to-day operations. They can include items such as hand tools, machinery, equipment, and vehicles. As tangible assets, they are classified as fixed assets because they have a useful life longer than a year and are not intended for sale in the normal course of business.

d) Outstanding Expenses are not current assets:
Outstanding expenses, also known as accrued expenses or accrued liabilities, are expenses that have been incurred but have not yet been paid. They represent obligations of the company to pay for goods or services that have already been received. Outstanding expenses are classified as current liabilities because they are expected to be settled within a year, not as current assets.

In summary, while all of the statements except for option D are correct, outstanding expenses are not classified as current assets. They are instead classified as current liabilities on the balance sheet.

Outstanding Expenses are current liabilities and not current assets. Hence option D is correct.