General Instructions for preparation of balance sheet and statement of profit and loss of a company are provided in _________ of the Companies Act, 2013.

Schedule I

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Schedule II

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Schedule III

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Schedule IV

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Solution

The correct option is C Schedule III
Schedule III of Companies Act, 2013 specified General Instructions for preparation of balance sheet and statement of profit and loss of a company which includes compliance of the accounting standards; requirement of disclosures, notes to the accounts, round off; format for preparing balance sheet and statement of profit and loss account for making law uniform to all.

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Similar questions

Q. The format for preparation of Profit and Loss a/c and Income statement is provided in ______ of schedule ______ of the companies act.

Q. The format for preparation of balance sheet is provided in ______ of schedule ________ of the companies act.

Q. As per schedule III of the companies act, schedule to balance sheet and income statement are now known as _________.

Q. Under which major headings and sub-headings the following items will be shown in the Balance Sheet of a company as per schedule III of Companies Act, 2013?
(i) Provision for Employee Benefits.
(ii) Calls-in-Advance.

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

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