Match the following with regard to company's Balance Sheet.
List I List II A. Shareholders funds I. Furniture and Fittings B. Current liabilities II. Prepaid expenses C. Current Assets III. Calls in Advance D. Non current assets IV. Surplus of Balance on statement of P and L
Choose the correct answer from the options given below:
Match the following with regard to company's Balance Sheet.
| List I | List II |
|---|---|
| A. Shareholders funds | I. Furniture and Fittings |
| B. Current liabilities | II. Prepaid expenses |
| C. Current Assets | III. Calls in Advance |
| D. Non current assets | IV. Surplus of Balance on statement of P and L |
Choose the correct answer from the options given below:
Solution
✅ Correct Option: 2
As per Schedule III of the Companies Act:
A. Shareholders' Funds includes Reserves and Surplus i.e. Surplus in Statement of P and L - IV.
B. Current Liabilities include Calls in Advance - III.
C. Current Assets include Prepaid Expenses - II.
D. Non-current Assets include Furniture and Fittings - I.
Hence: A-IV, B-III, C-II, D-I.
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