Balance Sheet of Electricity Company is presented in________ Schedule Ill Format Three Parts Four Parts Five Parts"
Answers
Answer:
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Answer:
The correct answer is Schedule Ill Format.
Explanation:
The balance sheet is a report version of the accounting equation, which states that the total assets must always equal the total liabilities plus shareholder's capital.
Under its Division I and Division II, Schedule III of the Firms Act 2013 specifies the format of financial statements for companies adhering to Accounting Standards (AS) and Indian Accounting Standards (Ind AS). Schedule III will now apply to NBFCs covered by the Indian Securities Act.
A schedule is a supplementary report or document that provides extensive information about the elements of the principal financial report. It acts as a kind of verification for all of the information offered in the financial report, providing answers to all of the statistics mentioned.
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