Name any two items that can be disclosed under ‘Reserve and Surplus’.
SOLUTION (i) Capital Reserve; (ii) Securities Premium Reserve.
Name any two sub-line items (sub-headings) under which “Current Assets’’ shall be classified in the Balance Sheet of a Company.
SOLUTION (i) Current Investments; (ii) Inventories.
Name any two sub-line items (sub-headings) under which “Non-Current Assets” shall be classified in the Balance Sheet of a Company.
SOLUTION (i) Fixed Assets; (ii) Non-Current Investments.
Name any two sub-line items (sub-headings) under which “Current Liabilities” shall be classified in a Company’s Balance Sheet.
SOLUTION (i) Short-term Borrowings; (ii) Trade Payables.
Name any two sub-line items (sub-headings) under which “Non-Current Liabilities” shall be classified in a Company’s Balance Sheet.
SOLUTION (i) Long-term Borrowings; (ii) Long-term Provisions.
Name any two sub-line items (sub-headings) under which “Shareholder’s Funds” shall be classified in a Company’s Balance Sheet.
SOLUTION (i) Share Capital; (ii) Reserve and Surplus.
Name any one line item that can be shown under the major heading “Assets” in a Company’s Balance Sheet.
SOLUTION Any one of the following:(i) Non-Current Assets.(ii) Current Assets.
Name any one line item that can be shown under the major heading “Equity and Liabilities” in a Company’s Balance Sheet.
SOLUTION Any one of the following: (i) Shareholder’s Funds(ii) Share application money pending allotment(iii) Non-Current Liabilities(iv) Current Liabilities
Give the meaning of ‘Long-term Provisions’.
SOLUTION Provisions for which the related claims are expected to be settled beyond twelve months or an operating cycle are classified as Long-term Provisions. (C.B.S.E. 2016)
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