As per Schedule III of the Companies Act, 2013, loose tools are included under the sub-head Inventories within Current Assets. Inventories include raw materials, work-in-progress, finished goods, stock-in-trade, stores and spares, and loose tools.
Select the sub-head under which loose tools will be shown in the Balance Sheet of a company -
CUET UG 2023 — Accountancy Financial Statements
2023mcqeasy
Select the sub-head under which loose tools will be shown in the Balance Sheet of a company -
Official previous-year question
Held on 29 May 2023 · Verified 13 Jul 2026.
Options
- A
Current Assets
- B
Trade Receivables
- C
Inventories
- D
Other current Assets
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