Accountancy Part BFinancial Statements of a Company

Every company registered under The Companies Act 2013 shall prepare i…

Every company registered under The Companies Act 2013 shall prepare its balance sheet in the prescribed format. Arrange the following Non-current Liabilities in proper order:

A. Deferred tax liabilities (net)
B. Long term provisions
C. Other long term liabilities
D. Long term borrowings

Choose the correct answer from the options given below:

Answer & explanation

Correct answer: option 2

The correct answer is Option (2) → D, A, C, B

Schedule III of the Companies Act, 2013 lists the Non-current Liabilities in this order:

D. Long term borrowings

A. Deferred tax liabilities (net)

C. Other long term liabilities

B. Long term provisions

NCERT (2026-27 edition):
Types of Financial Statements – “… Every company registered under The Companies Act 2013 shall prepare its balance sheet, statement of profit and loss and notes to account thereto in accordance with the manner prescribed in the revised Schedule III to the Companies Act, 2013 to harmonise the disclosure requirement with the accounting standards and to converge with new reforms.”

NCERT (2026-27 edition):
Types of Financial Statements

Extract from the NCERT textbook