Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Financial Statements of a Company

Question:
Deferred tax Liabilities fall under which of the following head as per the Schedule III of Companies Act 2013?
Options:
Current Assets
Non current assets
Current Liabilities
Non Current Liabilities
Correct Answer:
Non Current Liabilities
Explanation:
As per Schedule III of Companies Act 2013, Deferred tax assets/liabilities are always non-current. This is also in accordance to IAS-I.