Practicing Success

Register
Start Free Mocks
CUETMOCK

Ace Your

CUET Preparation Today

Start Free Mocks
Home Questions JBDU6DBB2Y
Target Exam

CUET

Subject

Accountancy

Chapter

Financial Statements of a Company

Question:

What is the correct order of the appearance of following items under the head Current Liabilities in the Balance Sheet as per Companies Act 2013?
Trade Payables, short term provisions, short term borrowings and other current liabilities

Options:

Short-term borrowings , Trade payables, Other current liabilities and Short-term provisions

Short-term borrowings ,Other current liabilities, Trade payables, and Short-term provisions

Short-term borrowings Short-term provisions, Trade payables and Other current liabilities.

None of the above

Correct Answer:

Short-term borrowings , Trade payables, Other current liabilities and Short-term provisions

Explanation:

BALANCE SHEET FORMAT

Particulars

Note no

Figures at the end of current year

Figures at the end of previous year

 EQUITY AND LIABILITIES

1)   Shareholder’s Funds

(a)   Share Capital

(b)  Reserve sand Surplus

(c)  Money received against share warrants

2)     Share Application money pending allotment

3)      Non-current  Liabilities

(a)   Long term borrowings

(b)    Deferred tax liabilities(net)

(c)    Other long term liabilities

(d)   Long term provisions

4)      Current Liabilities

(a)   Short-term borrowings

(b)   Trade payables

(c)    Other current liabilities

(d)   Short-term provisions

Total

  1. ASSETS

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

Total

 

 

 

 

 

 

 

 

 

 

 

  
 

 

CUET Questions