Question

Balance sheet of a company is required to be prepared in the format given in ______.

Options

• Schedule III Part II

• Schedule III Part I

• Schedule III Part III

• Table A

Answer 1

Balance sheet of a company is required to be prepared in the format given in Schedule III Part I.

Explanation:

The Balance Sheet of a company in India must be prepared as per the format provided in Schedule III, Part I of the Companies Act, 2013. Schedule III provides a uniform format for the financial statements of companies.

• Part I: Format for the Balance Sheet
• Part II: Format for the Statement of Profit & Loss
• Part III (if applicable): Additional disclosures