Question

Which of the following is not shown as a current liability in the balance sheet of a company prepared as per Schedule 3 of the Companies Act,2013?
a) Trade payables
b)Short term provision
c)deffered tax liabilities
d) short term borrowings​

Answer 1

Answer:

C. deffered tax liabilities are not shown in current liabilities

Answer 2

Answer:

The correct answer to this question is Deferred tax

Explanation:

Given - A current liability in the balance sheet of a company.

To Find - Which of the following is not shown as a current liability in the balance sheet of a company prepared as per Schedule 3 of the Companies Act,2013?

Deferred tax liabilities are not shown as a current liability in the balance sheet of a company prepared as per Schedule 3 of the Companies Act,2013.

Deferred tax liability is described under IAS 12 as the amount of income tax due in respect of taxable transitory differences in future periods. Deferred tax is, then, just tax that must be paid later.

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