Question

Match List-I with List-II and select the correct answer using the codes given below the lists:

List-I (Item of balance sheet of company)	List-II (Heading of balance sheet)
a. Preliminary expenses	1. Current liabilities
b. Other liabilities	2. Current asset
c. Loose Tools	3. Misc.Expenditure
d. Bill of Exchange	4. Loan & Advances

• A. (a)-1, (b)-2, (c)-4, (d)-3
• B. (a)-3, (b)-2, (c)-1, (d)-4
• C. (a)-3, (b)-1, (c)-2, (d)-4
• D. (a)-3, (b)-1, (c)-4, (d)-2

Answer 1

Answer: (C)

(a)-3, (b)-1, (c)-2, (d)-4

Item of Balance Sheet	Heading of Balance Sheet
Preliminary Expenses	Misc. Expenditure
Other Liabilities	Current Liabilities
Loose Tools	Current Assets
Bill of Exchange	Loans & Advances