Question : When Period of Operating Cycle is less than 12 Months: Liabilities due for settlement (payment) within 12 months from the date of Balance Sheet are classified (shown) as ------------------

Option 1: Current liabilities

Option 2: Non – current liabilities 

Option 3: Non – current assets 

Option 4: None of the above 

Question : When the Period of Operating Cycle is more than 12 Months (Say 15 Months): Liabilities due for settlement (payment) within 15 months from the date of the Balance Sheet are classified (shown) as --------------

Option 1: Current liabilities 

Option 2: Non – current liabilities 

Option 3: Non – current assets 

Option 4: None the above 

Question : The premium on redemption of debenture is shown under which head of the Balance Sheet?

Option 1: Non current liabilities

Option 2: Current liabilities

Option 3: Non current assets

Option 4: Current assets

Question : If the Expected Payment period is more than the period of the Operating Cycle and after 12 months from the date of the Balance Sheet.

Option 1: Current liabilities

Option 2: Non – current liabilities 

Option 3: Current Assets 

Option 4: None of the above 

Question : In a Company  Balance Sheet, the credit (profit) balance of the Statement of Profit and Loss is shown under:

Option 1: Reserve and Surplus

Option 2: Current Liabilities

Option 3: Non-current Assets

Option 4: Non-current Liabilities