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Accountancy · 2023 · 3 marks
CBSE 2023 · Region 2 · Set 2 · Q31
Classify the following items under major heads and sub-heads (if any) . in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, $\displaystyle 2013$ : (i) Loans repayable on demand (ii) Bills payable (iii) Patents
Marking-scheme solution
Item Major Head Sub Head
(i)
Loans repayable on Current liabilities Short-term Borrowing
demand
(ii)
Bills payable Current liabilities Trade payables
(iii)
Patents Non-current Assets Fixed Assets –
Intangible
Alternatively
Property, Plant and
Equipment & Intangible
Assets
Sub Head of part (iii).
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CBSE Class 12 Accountancy past-paper question from the 2023board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.