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Accountancy · 2024 · 3 marks
CBSE 2024 · Region 1 · 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…
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) Long Term Loans from Bank (b) Loose Tools (c) Outstanding Expenses
Marking-scheme solution
Item Major Heads Sub heads
(a)
Long Term Loans Non –Current Liabilities Long Term Borrowings
from Bank
(b)
Loose Tools Current Assets Inventories
(c)
Outstanding Current Liabilities Other Current Liabilities
Expenses
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CBSE Class 12 Accountancy past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.