Which among the following items is shown as the Major Head in the balance sheet of a company?
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → Current Assets
In the Schedule III balance sheet, the major heads are the numbered items: Shareholders’ Funds, Share Application Money Pending Allotment, Non-current Liabilities and Current Liabilities on one side, and Non-current Assets and Current Assets on the other. The lettered items under each are sub-heads.
Option (1) Deferred tax assets — Incorrect. A sub-head under Non-current Assets.
Option (3) Trade payables — Incorrect. A sub-head under Current Liabilities.
Option (4) Long term provisions — Incorrect. A sub-head under Non-current Liabilities.
NCERT (2026-27 edition):
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