Schedule III to The Companies Act, 2013, deals with which of the following ? (i) Format of Balance…
Schedule III prescribes formats for the balance sheet and statement of profit and loss. A separate trading-account format is not prescribed there, and the cash-flow…
Choose your answer
Schedule III to The Companies Act, 2013, deals with which of the following ?
(i) Format of Balance Sheet
(ii) Format of Profit and Loss Account
(iii) Format of Trading Account
(iv) Format of Cash Flow
Answer and explanation
Correct answer A
Schedule III prescribes formats for the balance sheet and statement of profit and loss. A separate trading-account format is not prescribed there, and the cash-flow statement follows the applicable accounting standard.
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Himachal Pradesh SET (HP SET)