Question

According to the Companies Act, 2013 which of the following should be disclosed separately?

• A. Bank deposits with more than 12 months maturity
• B. Cheques and drafts in hand
• C. Balances with saving and current Bank Accounts
• D. All of the above

Answer 1

Answer: (A)

Bank deposits with more than 12 months maturity

As per section 129 of the Companies Act, 2013, Financial statements has to be disclosed which shall give a true and fair view of the state of affairs of the company or companies, and shall be in the form or forms as may be provided for different class or classes of companies in Schedule III. Schedule III of the act prescribes what all has to be disclosed by the company in its financial statement. As per heading Q of the Schedule III of the act, the company has to disclose Bank deposits with more than 12 months maturity.