"Fixed Asset held for sale" will be classified in the Balance Sheet as per Schedule III of the Companies Act as:

CA Intermediate · Advanced Accounting · PYQS · September 2024
"Fixed Asset held for sale" will be classified in the Balance Sheet as per Schedule III of the Companies Act as:
(A) Deferred Tax Assets
(B) Current Asset
(C) Non-Current Asset
(D) Long term Investments

Suggested Answer and Working Notes:

Correct Answer: Option (B)

Current Asset

Topics: AS 13, AS 22

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