The balance in ‘Calls in Advance&r

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Target Exam

CUET

Subject

Accountancy Part A

Chapter

Accounting for Shares

Question:

The balance in ‘Calls in Advance’ account is shown as a separate item under which heading of the balance sheet ?

Options:

Current Assets

Non Current Assets

Non Current Liabilites

Current Liabilities

Correct Answer:

Current Liabilities

Explanation:

The correct answer is Option (4) →

Current Liabilities