Accountancy Part BFinancial Statements of a Company

As per schedule III of Companies Act, 2013 Sundry Debtors and Sundry…

As per schedule III of Companies Act, 2013 Sundry Debtors and Sundry Creditors have been replaced by the terms :

Answer & explanation

Correct answer: option 3

The correct answer is Option (3) → Trade Receivables and Trade Payables

NCERT (2026-27 edition):
Important Features of Presentation – “‘Sundry Debtors’ and ‘Sundry Creditors’ replaced by terms ‘Trade Receivables’ and ‘Trade Payables’.”