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    • Question

      ABC Ltd. follows Ind AS and presents its balance sheet

      as per Schedule III of the Companies Act. The company receives ₹5 crore from the issue of debentures which are due for redemption after 9 months. How should this be classified in the balance sheet?
      A As equity Correct Answer Incorrect Answer
      B As non-current liability Correct Answer Incorrect Answer
      C As current liability Correct Answer Incorrect Answer
      D As deferred revenue Correct Answer Incorrect Answer

      Solution

      Liabilities due within 12 months are treated as current liabilities under Schedule III.

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