Advanced AccountingQuestion 5338 of 305
All Questions ADeferred Tax Assets
BCurrent Asset
CNon-Current Asset
DLong term Investments
Answers Key
MCQ No.
Answers
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Correct Answer
✅ Option B — Current Asset
All Options:
- ADeferred Tax Assets
- BCurrent Asset ✓
- CNon-Current Asset
- DLong term Investments Answers Key MCQ No. Answers
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Detailed Solution & Explanation
Under Schedule III of the Companies Act, 2013:
1. Fixed assets held for sale are classified under Current Assets (under the head 'Other Current Assets').
2. Since their sale is expected to be completed within 12 months, they meet the criteria of current assets.
Hence, **Option B** is the correct answer.
1. Fixed assets held for sale are classified under Current Assets (under the head 'Other Current Assets').
2. Since their sale is expected to be completed within 12 months, they meet the criteria of current assets.
Hence, **Option B** is the correct answer.
Key Concepts to Understand
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