Accounting · Company Final Accounts
Assertion (A): Balance Sheet is prepared under two broad heads, namely 'Equity and Liabilities' and 'Assets'. Reason (R): The Companies Act, 2013, prescribes under Schedule III Part I that 'Equity and Liabilities' be shown first, followed by 'Assets'.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A is true but R is false
- 2Both A and R are true, but R is not the correct explanation for A
- 3Both A and R are true, and R is the correct explanation for A✓
- 4Both A and R are false
Correct answer
Both A and R are true, and R is the correct explanation for A
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