What is the number of major heads on the Assets side of a Balance Sheet as per Schedule III?
Two
Three
Four
Five
There are two major heads on the assets side of balance sheet namely
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.
Items Major Head/Sub-head Loose Tools Trade Receivables Cheques in Hand Current Investments Term Loan from Bank Other Long-term Liabilities Computer Software Tangible Fixed Assets
You are required to represent the items as per the Companies Act, 2013,