Question

Which of the following statements about the revised Schedule VI of the Companies Act, 1956, is NOT true?

A Assets and liabilities must be classified into current and non-current.
B Provision for diminution in value of current and long-term investments must be disclosed.
C Debit balance of the Statement of Profit and Loss must be shown as the last item on the Assets side of the Balance Sheet.
D Trade receivables must include only the amount due from sale of goods or services in the normal course of business.
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