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Model Paper 2 — Accountancy STD 12 Commerce — Question

CBSE BoardEnglish MediumSTD 12 CommerceAccountancyModel Paper 23 Marks
Question
Name any two items that are shown under the head 'other current liabilities and any two items that are shown under the head 'other current assets' in the balance sheet of a company as per Schedule III of the Companies Act, 2013.
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Answer

The two items shown under the head 'other current Liabilities are
i. Call in Advance
ii. Outstanding Expense
The two items shown under the head 'other current assets' are
i. Accrued Income
ii. Prepaid expenses

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