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easyMCQCUET Accountancy 2025 3 June Shift 22026Accountancy
1 mark

Discount on issue of 8% debentures (to be written off within 12 months from the reporting date) is shown in the balance sheet as:

  1. A
    Other current assets
  2. B
    Short term loans and advances
  3. C
    Long term loans and advances
  4. D
    Other current liabilities

Solution & Step-by-step Explanation

Unamortized discount on the issue of debentures scheduled for write-off within the current cycle or 12 months is classified under "Other Current Assets" according to Schedule III of the Companies Act, 2013.

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Discount on issue of 8% debentures (to be written off within 12 months from the reporting date) is shown in the balance sheet as:
A
Other current assets
B
Short term loans and advances
C
Long term loans and advances
D
Other current liabilities

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Company AccountsDebenturesBalance Sheet Presentation

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