Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Financial Statements of a Company

Question:

According to the prescribed order of assets in a Company’s Balance Sheet , which asset should be shown first of all?

Options:

Non-current Assets

Loans and Advances

Current Assets

Current Investments

Correct Answer:

Non-current Assets

Explanation:

Assests 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