Question : Which of the following statements is correct?

Option 1: While preparing Common-size Balance Sheet, each item of Balance Sheet is expressed as % of Non-current Assets.

Option 2: While preparing Common-size Balance Sheet, each item of Balance Sheet is expressed as % of Current Assets.

Option 3: While preparing Common-size Balance Sheet, each item of Balance Sheet is expressed as % of Total Assets.

Option 4: While preparing Common-size Balance Sheet, each item of Balance Sheet is expressed as % of Non-current liabilities.

Question : Every item of the Balance Sheet is expressed as % of _________ while preparing Common-size Balance Sheet.

Option 1: Non-current Assets

Option 2: Current Assets

Option 3: Total Assets

Option 4: Net sales

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 

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 : Due to be Settled within 12 Months from the Date of the Balance Sheet: A liability is classified or shown as ------.

Option 1: Non – current liabilities

Option 2: Current liabilities

Option 3: Current assets

Option 4: Non – current assets