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Classify the following… (Class 12 Accountancy 2026, Q31)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 3 marks · Short answer

CBSE Class 12 Accountancy 2026: question 31

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section B-I, question 31, for 3 marks. Try it first; the hints and our step-by-step solution are below.

Q31 · 3 marks · Short answerFinancial Statements of a Company

Classify the following items under major heads and sub-heads (if any) in the Balance Sheet of the company as per Schedule-III, Part-I of the Companies Act, 2013 :

(i) Stores and Spare parts

(ii) Livestock

(iii) Public Deposits

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/1/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

Stores and spares are a kind of inventory.

Hint 2

Livestock is a tangible fixed asset.

Hint 3

Public deposits are money borrowed from the public.

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. (i) Stores and spare parts: Current Assets – Inventories.

    1 mark

  2. (ii) Livestock: Non-Current Assets – Property, Plant and Equipment and Intangible Assets (Property, Plant and Equipment).

    1 mark

  3. (iii) Public deposits: Non-Current Liabilities – Long-term Borrowings.

    1 mark

Answer: (i) Current Assets – Inventories (ii) Non-Current Assets – Property, Plant and Equipment (iii) Non-Current Liabilities – Long-term Borrowings

Where the marks are

  • Each item with major head and sub-head (1 mark each)

Revise the chapter

Practise this chapterBoard-style questions from Financial Statements of a Company, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/1/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.