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Accountancy · 2023 · 3 marks
CBSE 2023 · Region 3 · Set 1 · 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, 2013. (i) Mining Rights (ii) Income received in advance (iii) Capital work in progress
Marking-scheme solution
Item Major head Sub head
(i)
Mining Rights Non- Current Assets Fixed Assets- Intangible
Assets
Alternatively
Property, Plant &
Equipment and Intangible
Asset- Intangible Assets
(ii)
Income received in Current Liabilities Other Current Liabilities
advance
$\displaystyle 20$
(iii)Capital work in Non- Current Assets Fixed Assets
progress
Alternatively
Property, Plant & Equipment
and Intangible Asset
Note:
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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.