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Question
Under which major head and sub-head of the Assets part of the Balance Sheet will the following be shown:
(i) Intangible Assets; (ii) Intangible Assets under Development; (iii) Investments (more than 12 months); (iv) Deferred Tax Assets (Net); (v) Stores and Spares; and (vi) Loose Tools?
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Solution
| Items | Main head | Sub-head |
| Intangible Assets | Non-Current Assets | Fixed Assets |
| Intangible Assets under development | Non-Current Assets | Fixed Assets |
| Investments (more than 12 months) | Non-Current Assets | Non-Current Investments |
| Deferred Tax Assets (Net) | Non-Current Assets | Deferred Tax Assets (Net) |
| Stores and Spares | Current Assets | Inventories |
| Loose Tools | Current Assets | Inventories |
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