Match List I with List II
| List I | List II |
| A. Long term provisions | I. Current assets |
| B. Trade payables | II. Non-current assets |
| C. Cash and Cash equivalent | III. Non-current Liabilities |
| D. Long-term loans and advances | IV. Current Liabilities |
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct answer is Option (2) → A-III, B-IV, C-I, D-II
Schedule III to the Companies Act, 2013 places each item under a fixed head of the Balance Sheet.
(A) Long term provisions — this matches (III) Non-current Liabilities. Provisions not to be settled within 12 months are long-term.
(B) Trade payables — this matches (IV) Current Liabilities. Amounts owed to suppliers are payable within the operating cycle.
(C) Cash and Cash equivalent — this matches (I) Current assets.
(D) Long-term loans and advances — this matches (II) Non-current assets. Loans and advances recoverable after 12 months are non-current.
NCERT (2026-27 edition):
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