Practicing Success
Practicing Success
CUET Preparation Today
| Debit Balance of Profit & Loss Statement will be shown in the Balance Sheet of a company under which of the following heads as per Schedule III of the Companies Act 2013 ? |
Under the head Profit and Loss A/c Under the head Profit and Loss A/c as a negative item Under the head Reserve & Surplus Under the head Reserves and Surplus as a negative item |
| Under the head Reserves and Surplus as a negative item |
| Significant additions/modifications regarding disclosure of reserve and surplus as per Schedule III of the Companies Act 2013 are as follows: a) A reserve specifically represented by earmarked investments shall be termed as “Fund”. b) ‘Debit’ balance of statement of profit and loss shall be shown as a negative figure under ‘Surplus’ sub head of the major head "Reserves and Surplus". |
