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Accountancy · 2024 · 3 marks
CBSE 2024 · Region 3 · Set 1 · 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) Mining Rights (b) Loose Tools (c) Income Received in Advance
Marking-scheme solution
S.N. Item Major Head Sub Head
(a)
Mining Rights Non-Current Assets Fixed Assets /
Property, Plant and
Equipment and Intangible
Assets - Intangible Assets
(b)
Loose Tools Current Assets Inventories
(c)
Income Received in Advance Current Liabilities Other Current Liabilities
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CBSE Class 12 Accountancy past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.