What are the major heads in the Equity and Liabilities part of the Balance Sheet as per Schedule III?
CBSE Class 12 Accountancy - Financial Statements of a Company
1
Question
What are the major heads in the Equity and Liabilities part of the Balance Sheet as per Schedule III?
Answer
The major heads of the Equity and Liabilities part of the Balance Sheet as per Schedule III are:
1
Shareholder's Funds2
Application Money Pending Allotment3
Non-Current Liabilities4
Current LiabilitiesKey Points to Remember
- These four major heads form the structure of Equity and Liabilities side as per Schedule III
- Schedule III is part of the Companies Act, 2013
- This classification helps in proper presentation of company's financial position