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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 β‚Ή5 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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