As per Schedule III of the Companies Act

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Target Exam

CUET

Subject

-- Accountancy Part B

Chapter

Financial Statements of a Company

Question:

As per Schedule III of the Companies Act 2013, Balance sheet of companies is now prepared in :

Options:

Horizontal Form

Vertical Form

Either 1 or 2

Nothing has been specified.

Correct Answer:

Vertical Form

Explanation:

Schedule III of the Companies Act 2013 has prescribed vertical form of Balance sheet for the companies.