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As per companies Act, the Balance Sheet ...

As per companies Act, the Balance Sheet of a company is required to presented in ..........

A

Horizontal Form

B

Vertical Form

C

Either Horizontal or Vertical Form

D

Neither of the above

Text Solution

Verified by Experts

The correct Answer is:
B
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Under which heads the following items on the Assets part of the Balance Sheet of a company will be presented: (i) Sundry Debtors, (ii) Patents and Trademarks, (iii) Shares in Quoted Companies, (iv) Advances recoverable in cash, (v) Prepaid Insurance, and (vi) Work-in-Progress (Machinery)?

State the first heading under Equity and Liabilities part of the Balance Sheet of a company as per the Schedule III.

Knowledge Check

  • Balance sheet of a company is required to be prepared in the format given in ............

    A
    Schedule III Part II
    B
    Schedule III Part I
    C
    Schedule III Part III
    D
    Table A

  • Debentures are shown in the Balance Sheet of a company under the head of

    A
    Non-current Liabilities
    B
    Current Liabilities
    C
    Share Capital
    D
    None of these

  • Debentures are shown in the Balance Sheet of a company under the head of

    A
    Non - current Liabilites.
    B
    Current Liabilities.
    C
    Share Capital.
    D
    None of these.

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    Under which major headings and sub-headings will the followings items be shown in the Balance Sheet of a company as per Schedule III of Companies Act, 2013? (i) Provision for Employee Benefits. (ii) Calls-in-Advances.

    State under which major headings the following items will be presented in the Balance Sheet of a company as per revised Schedule VI, Part I of the Companies Act, 1956 (Now Schedule III, Part I of the Companies Act, 2013): (i) Long-term Borrowings (ii) Trade Payables (iii) Provision for Tax (iv) Securities Premium Reserve (v) Patents (vi) Accrued Incomes.

    Under which sub-heads will the following items be placed in the Balance Sheet of a company as per revised Schedule VI, Part I of the Companies Act, 1956 (Schedule III, Part I of the Companies Act, 2013)? (i) Capital Reserve (ii) Bonds (iii) Loans repayble on Demand (iv) Vehicles (v) Goodwill (vi) Loose Tools

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    Under which heads and sub-heads following items will appear in the Balance Sheet of a company as per Schedule III of the Companies Act, 2013? (i) Premium on Redemption of Debentures (ii) Loose Tools (iii) Balances with Banks

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