According to the new provisions of the Companies Act 2013, 'Trade Receivables' shall be sub-classified in _________.

2 parts

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4 parts

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5 parts

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6 parts

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Solution

The correct option is A 2 parts
According to the Provisions of the companies Act 2013, Trade receivables shall be classified into 2 parts namely debtors and Bills receivables.

Debtors are the people to whom goods are sold on credit and payment is yet to be received from them. Bills receivables are bills of exchange accepted by the debtor or received in a way of endorsement from them.

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