Final Accounts of a company are prepared according to _________ of companies Act, $2013$ .

Schedule IV

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Schedule II

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Schedule III

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Schedule I

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Solution

The correct option is D Schedule III
The balance sheet of a company is prepared as per the format prescribed in part I of Schedule III of the Companies Act, 2013. The Schedule III prescribes only the vertical format for presentation of financial statements. Thus, a company will now not have an option to use horizontal format for the presentation of financial statements.

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Similar questions

Q. Final accounts of companies are prepared according to ______of the Companies Act, 2013.

Q. Schedule III of the Companies Act,

2013

is applicable from ________.

Q. Schedule III of the Companies Act, 2013 is applicable from _________.

Q. Companies Act,

2013

contains ________ schedule.

The 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

$\begin{matrix} Items & Major Head/Sub-head Loose Tools & Trade Receivables Cheques in Hand & Currnt Investments \end{matrix}$

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

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Final Accounts of a company are prepared according to _________ of companies Act, 2013.

Final Accounts of a company are prepared according to _________ of companies Act, $2013$ .