WorksheetsSchedule III
Total questions: 15
Worksheet time: 8mins
Debentures are classified under which head in the Balance Sheet?
Short-term borrowings
Long-term borrowings
Reserves and Surplus
Current liabilities
Goodwill appears under which main heading in the Balance Sheet?
Non-current assets
Current assets
Reserves and Surplus
Share capital
Securities Premium Reserve is shown under which head?
Share capital
Non-current liabilities
Reserves and Surplus
Other current liabilities
Advance tax paid is shown under which classification?
Other current assets
Short-term borrowings
Current liabilities
Cash and cash equivalents
Closing stock is shown on which side and under which head?
Assets side – Current assets
Assets side – Non-current assets
Liabilities side – Current liabilities
Liabilities side – Reserves and Surplus
Outstanding expenses are recorded under which section?
Current liabilities
Current assets
Non-current liabilities
Shareholders’ funds
Prepaid expenses appear as:
Current liabilities
Current assets
Non-current assets
Reserves and Surplus
Which of the following items is shown under Non-current assets (Tangible)?
Patents
Trade receivables
Trade payables are grouped under:
Shareholders’ funds
Non-current liabilities
Current liabilities
Non-current assets
Which one of the following is an intangible asset?
Furniture
Building
Patent
Machinery
From the following, identify the 'odd one out' as per Balance Sheet classification:
Inventory
Trade receivables
Cash at bank
Plant and Machinery
Calls in arrears are shown under which heading in the Balance Sheet?
Current liabilities
Deducted from Share Capital
Other current assets
Long-term borrowings
Which of the following is not a Current Asset?
Short-term investment
Trade receivables
Inventory
Machinery
Which among the following appears under 'Other current liabilities'?
Unpaid dividends
Secured loans
Outstanding salaries
Trade payables
Bills receivable are presented under:
Non-current assets
Trade receivables under Current Assets
Short-term provisions
Reserves and Surplus
