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Under Schedule III of the Companies Act 2013, how must the balance sheet be presented?

  1. A In a vertical format with equity and liabilities followed by assets, split into current and non-current
  2. B In a horizontal T format
  3. C In order of liquidity only
  4. D In any format chosen by management
Answer

In a vertical format with equity and liabilities followed by assets, split into current and non-current

The prescribed format ensures comparability across companies and requires specified note disclosures.

All CA MCQs

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