Which of the following is current asset as per Schedule III of the Companies Act 2013?

All of the above

The correct answer is option 4- All of the above.

As per Schedule III of the Companies Act 2013, the classified balance sheet in terms of current and non-current assets and current and non-current liabilities have been introduced. The criteria for defining current assets and liabilities has been clearly spelled out with non-current assets and liabilities being the residual items.
An item is classified as current:
• if it is involved in entity’s operating cycle or,
• is expected to be realised/settled within twelve months or,
• if it is held primarily for trading or,
• is cash and cash equivalent or,
• if entity does not have on unconditional rights to defer settlement of liability for atleast 12 months after the reporting period,

Other assets and liabilities are non-current.