Question

In a Company’s Balance Sheet ______ appear under the head ‘non-current assets’.

Options

• Goodwill

• Patents

• Vehicles

• All of the above

Answer 1

In a Company’s Balance Sheet goodwill, patents and vehicles appear under the head ‘non-current assets’.

Explanation:

Under the Companies Act, 2013 and Schedule III, the following items appear under the head “Non-Current Assets” in a company’s Balance Sheet: Examples of Non-Current Assets include:

1. Goodwill – an intangible asset (appears under “Intangible Assets”)
2. Patents – also an intangible asset
3. Vehicles – part of Property, Plant & Equipment (PPE), which are tangible assets