According to schedule VI Companies Act which of the following items is not shown on asset side of balance sheet?

Investment

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Current loan & advances

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Provision

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Lease holds

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Solution

The correct option is A Provision
Schedule VI of the companies act stipulate the format in which a company should prepare and present the balance sheet and profit & loss account.
According to schedule VI of the companies act, provisions are shown in the liability side under the heading "Current liabilities & provisions".

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Similar questions

Under which sub-headings will the following items be shown in the Balance Sheet of a company as per Revised Schedule VI, Part of the Companies Act, 1956 (now Schedule III, Part I of the Companies Act, 2013).
(i) Long-term loan (ii) Capital Redemption Reserve.
(iii) Short-term provision (iv) Goodwill.
(v) Provision for warranties. (vi) Brand/Trade-marks.

Q. Under which major sub-headings the following items will be placed in the Balance Sheet of a company as per revised Schedule VI, Part-I of the Companies Act, 1956:
(i) Accrued Incomes
(ii) Loose Tools
(iii) Provision for employees benefits
(iv) Unpaid dividend
(v) Short-term loans
(vi) Long-term loans.

Under which major headings and sub-headings will the following items be shown in the Balance Sheet of a company as per Schedule III Part I of the Companies Act, 2013 :

(i) Net loss as shown by Statement of Profit and Loss

(ii) Capital redemption reserve.

(iii) Bonds

(iv) Loans repayable on demand

(v) Unpaid dividend

(vi) Buildings

(vii) Trademarks

(viii) Raw materials

Q. Identify the major heads under which the following items will be shown in the Balance Sheet of a company as per Schedule III of Companies Act, 2013:

(i) Provision for Tax.	(ii) Loan payable on demand.
(iii) Computer and related equipment.	(iv) Goods acquired for trading

Balance Sheet prepared by the junior accountant showed the following items against the Major Heads and Sub-heads mentioned which were not as per Schedule III of the Companies Act, 2013.

$\begin{matrix} Items & Major Head/Sub-head Loose Tools & Trade Receivables Cheques in Hand & Current Investments Term Loan from Bank & Other Long-term Liabilities Computer Software & Tangible Fixed Assets \end{matrix}$

You are required to represent the items as per the Companies Act, 2013,

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