Identify which of the following items are classified under Current Liabilities in a corporate Balance Sheet as per Schedule III of the Companies Act, 2013:(A) Trade receivables(B) Unclaimed dividend(C) Interest accrued but not due on loan(D) Acceptances(E) debentures redeemable after four yearsChoose the correct answer from the options given below:
- A(A), (B) and (C) only
- B(B), (C) and (D) only
- C(A), (C) and (D) only
- D(A), (B) and (D) only
Solution & Step-by-step Explanation
Let's classify each item:Trade Receivables (A): Classified under Current Assets.Unclaimed Dividend (B): Classified under "Other Current Liabilities".Interest accrued but not due on loan (C): Classified under "Other Current Liabilities".Acceptances (D): Part of Trade Payables, which is a Current Liability.12% Debentures redeemable after 4 years (E): Classified under Non-Current Liabilities (Long-term borrowings).Therefore, items (B), (C), and (D) are Current Liabilities.