Question

Under which major head and sub-head (if any) will the following item be presented in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013?

1. Demand deposits with banks
2. Long-term loans
3. Livestock

Answer 1

Items	Major Head	Sub-head
Demand deposits with banks	Assets → Current Assets	Cash and Cash Equivalents
Long-term loans	Assets → Non-Current Assets	Long-Term Loans and Advances
Livestock	Assets → Non-Current Assets	Property, Plant and Equipment (Tangible Assets)