government securities is written in schedule no___ as per Banking company account
1) 8
2) 9
3) 7
4) 1
Answers
Answer:
Section 9 - Disposal of non-banking assets ... 3 Substituted by Act 23 of 1965 for "Companies" w.e.f. 1-3-1966. ... (ii) such of the securities authorised by the Central Government under clause (f) of section 20 ...
Explanation:
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Answer:
Government securities is written in schedule no 8 as per Banking company account.
Explanation:
The Banking Regulation act, 1949 prescribes formats of preparing final accounts of the Banking companies. The third schedule of section 29 gives forms 'A' for the balance sheet and Form 'B' for Profit and loss account. The balance sheet consists of total 12 schedules.
Schedule 8 of the Banking company account describes about the Government securities. It Includes Central and State Government securities and Government treasury bills. These securities should be shown at the book value. However, the difference between the book value and market value should be given in the notes to the balance sheet.