Question

Schedule III has prescribed ...?... format of presentation of Balance Sheet.

विकल्प

• Horizontal

• Vertical

• Either Horizontal or Vertical

• Neither Horizontal or Vertical

Answer 1

Schedule III has prescribed a vertical format of presentation of Balance Sheet.

Explanation:

Under Schedule III of the Companies Act, corporate balance sheets must use a mandatory vertical format. Unlike the old T-shaped horizontal format (which put liabilities on the left and assets on the right), the vertical format presents everything in a single top-to-bottom list. It shows “Equity and Liabilities” at the top and “Assets” directly underneath it.