1.

Under which major heads and subheads of the Balance Sheet of a company, will the following items be shown:- (i) Loose Tools (ii) Retirement Benefits Payable to employees (iii) Patents (iv) Interest on Calls in Advance 

Answer»
Items Major Head of Balance Sheet Sub Head of Balance Sheet 
(i)Loose Tools Current Assets Inventories
(ii)Retirement Benefits Payable to employeesNon-Current Liabilities Long Term Provisions 
(iii)PatentsNon-Current AssetsFixed Asset (Intangible) 
(iv) Interest on Calls in AdvanceCurrent LiabilitiesOther current Liabilities



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