Question

edule
43. 'Advances' taken for goods and services to be supplied within 3 months from year-end should
be disclosed as an item under
(a) 'Other Payables' under 'Other Current Liabilities'
(b) 'Other loans and advances' under 'Short-term borrowings'
(c) Trade payables

Answer 1

Answer:

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Answer 2

Answer:

The answer is Trade Payables

Explanation:

Trade Payables under the heading “Equity and Liabilities” will disclose the trade payable to micro and small enterprises and enterprises other than micro and small enterprises on the face of the balance sheet.

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