Financial Statements

Nature/Structure

Medium

What is the correct sequence to prepare company's Balance Sheet as per the standard format given according to schedule III of Companies Act 2013?

A. Non Current Liability

B. Non Current Assets

C. Shareholder's Fund

D. Current Assets

E. Current Liability

Choose the correct answer from the options given below:

C, A, B, E, D

A, B, C, D, E

C, A, E, B, D

A, C, E, B, D

✅ Correct Option: 3

Per Schedule III vertical format: Equity and Liabilities are shown first in order - Shareholder's Fund (C), Non-Current Liabilities (A), Current Liabilities (E). Then Assets - Non-Current Assets (B), Current Assets (D). Correct sequence is C, A, E, B, D.

2022: 8 Aug Shift 2

Financial statements are:

2023: 29 May Shift 2

Identify the term that indicate excess of Expenditure over Income, in case of a Not-for-profit Organisation.

2025: 13 May Shift 1

Arrange the following under the heading Equities and Liabilities in balance sheet of a company.

(A) Non-current liabilities

(B) Current liabilities

(D) Share application money pending allotment

Choose the correct answer from the options given below:

2022: 30 Aug Shift 2

Identify the correct sequence of current assets in company's Balance sheet?

A. Bills Receivables

B. Cash & cash equivalents

C. Short term loans & advances

D. Inventories

E. Current investments

Choose the correct answer from the options given below:

2025: 22 May Shift 1

While preparing financial statements on certain basic assumptions such as going concern, money measurement, and realization etc, they are known as:

2022: 30 Aug Shift 2

Identify the components of equity:

A. Money received against share warrants

B. Working capital

C. Share capital

D. Reserves & surplus

E. Cash Revenue from operations

Choose the correct answer from the options given below:

Solution

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