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Accountancy · 2024 · 3 marks
CBSE 2024 · Region 5 · Set 1 · Q31
Under which major heads and sub-heads will the following items be placed in the Balance Sheet of the company as per Schedule III, Part I of the Companies Act, $\displaystyle 2013$ : (i) Stores and Spares (ii) Calls-in-Advance (iii) Income received in advance
Marking-scheme solution
S.No. Items Heads Sub Heads
(i)
Stores and Spares Current Assets Inventories
(ii)
Calls- in- advance Current Liabilities
Other Current Liabilities
(iii)
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.