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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