According to the prescribed order of assets in a Company’s Balance Sheet, which asset should be shown first of all?
Answer & explanation
Correct answer: option 1
The correct answer is option 1- Non-current Assets.
According to the prescribed order of assets in a Company’s Balance Sheet, non current asset should be shown first of all.
Assets order:
1) Non-Current Assets
(a) Fixed assets (i) Tangible assets (ii) Intangible assets (iii) Capital work-in-progress (iv) Intangible assets under development
(b) Non-current investments
(c) Deferred tax assets (net)
(d) Long-term loans and advances
(e) Other non-current assets
2) Current Assets
(a) Current investments
(b) Inventories
(c) Trade receivables
(d) Cash and cash equivalents
(e) Short-term loans and advances
(f) Other current assets