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Question

Under which major sub-headings the following items will be placed in the Balance Sheet of a company as per revised Schedule VI, Part-I of the Companies Act, 1956:
(i) Accrued Incomes
(ii) Loose Tools
(iii) Provision for employees benefits
(iv) Unpaid dividend
(v) Short-term loans
(vi) Long-term loans.

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Solution

Items Sub - Head
(i) Accured Income Other Current Assets
(ii) Loose ToolsInventories
(iii) Provision for Employees benefitsShort - Terms Provision
(iv) Unpaid Divided Other Current Liabilities
(v) Short - Term Loans Short - Term Borrowings
(vi) Long Term LoansLong Terms Borrowing

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