In what order, the following assets are shown in the balance sheet of a company ? (i) Trade receivables…
In a company's Balance Sheet (arranged in the order of permanence / Schedule III hierarchy from non-current to current assets), fixed tangible assets such as Furniture and…
Choose your answer
In what order, the following assets are shown in the balance sheet of a company ?
(i) Trade receivables
(ii) Cash
(iii) Furniture and fittings
(iv) Investment in shares and debentures
Answer and explanation
Correct answer C
In a company's Balance Sheet (arranged in the order of permanence / Schedule III hierarchy from non-current to current assets), fixed tangible assets such as Furniture and fittings (iii) appear first, followed by non-current Investments in shares and debentures (iv), and then Current Assets starting with Trade receivables (i) and concluding with Cash and cash equivalents (ii): (iii), (iv), (i), (ii).
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UGC NET Commerce