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Accountancy · 2026 · 3 marks
CBSE 2026 · Region 4 · Set 3 · Q31
Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, $\displaystyle 2013$ : (a) Licenses and Franchise (b) Capital Advance (c) Stores and Spares
Marking-scheme solution
Item Major head Sub-head
(a)
Licenses and Non-Current Assets Property, Plant and
Franchise Equipment and Intangible
asset
(b)
Capital Advance Non-Current Asset $\displaystyle 1$/$\displaystyle 2$ Long term loans and
advances
(c)
Stores and Spares Current Assets $\displaystyle 1$/$\displaystyle 2$ Inventories $\displaystyle 1$/$\displaystyle 2$
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CBSE Class 12 Accountancy past-paper question from the 2026board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.