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Question

As per Schedule III of the Companies Act, 2013, long term provisions are shown –

A By way of deduction from respective non-current asset Correct Answer Incorrect Answer
B As a part of shareholders funds Correct Answer Incorrect Answer
C Under the heading Non-Current Liabilities Correct Answer Incorrect Answer
D Under the separate heading Provisions Correct Answer Incorrect Answer

Solution

Long-term provisions, as per Schedule III of the Companies Act, 2013, are typically categorized under the heading "Non-Current Liabilities" in the balance sheet.

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