Question

Name the Sub-heads under the head ‘Current Liabilities’ in the Equity and Liabilities part of the Balance Sheet as per Schedule III, Part I of the Companies Act, 2013.

Answer 1

As per Schedule III, Part I of the Companies Act, 2013, there are exactly four sub-heads under the main head ‘Current Liabilities’:

1. Short-term borrowings
2. Trade payables
3. Other current liabilities 
4. Short-term provisions