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Accountancy · 2023 · 3 marks
CBSE 2023 · Region 3 · Set 3 · 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) Public Deposits (ii) Income received in advance (iii) Loose Tools
Marking-scheme solution
Item Major head Sub head
(i)
Public Deposits Non- Current Long term borrowings
Liabilities
(ii)
Income received in Current Liabilities Other Current Liabilities
advance
Inventories
(iv)
Loose Tools Current Assets
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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.