The manner prescribed in the revised schedule iii to the companies act, 2013, the particulars of balance sheet will appear in the order
(A) Deferred tax assets
(B) Deferred tax liabilities
(C) Reserves and Surplus
(D) Short-term provisions
Choose the correct answer from the options given below:
The manner prescribed in the revised schedule iii to the companies act, 2013, the particulars of balance sheet will appear in the order
(A) Deferred tax assets
(B) Deferred tax liabilities
(C) Reserves and Surplus
(D) Short-term provisions
Choose the correct answer from the options given below:
Solution
As per Revised Schedule III to the Companies Act, 2013, the Balance Sheet is presented in a specific vertical format with Equity and Liabilities followed by Assets.
The order of appearance for the given items is:
(C) Reserves and Surplus - Appears under "Shareholders' Funds" which is the first major head under Equity and Liabilities
(B) Deferred tax liabilities - Appears under "Non-Current Liabilities" as the second item (after long-term borrowings)
(D) Short-term provisions - Appears under "Current Liabilities" as the last item
(A) Deferred tax assets - Appears under "Non-Current Assets" section (which comes after all liabilities)
The sequence follows the structure: Equity → Non-Current Liabilities → Current Liabilities → Assets
Therefore, the correct order is (C), (B), (D), (A).
Correct Option: 4
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2022: 8 Aug Shift 2