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Under which major head… (Class 12 Accountancy 2026, Q32)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/5/1 · 3 marks · Short answer

CBSE Class 12 Accountancy 2026: question 32

Set in the CBSE Class 12 board exam of 2026, paper 67/5/1, section B-I, question 32, for 3 marks. Try it first; the hints and our step-by-step solution are below.

Q32 · 3 marks · Short answerFinancial Statements of a Company

Under which major head and sub-heads (if any) will the following items be presented in the Balance Sheet of a company as per Schedule III, Part I of the Companies Act, 2013 ?
(i) Demand deposits with banks
(ii) Long-term loans
(iii) Livestock

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/5/1.

Hints

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

Hint 1

Demand deposits can be withdrawn at any time.

Hint 2

Long-term loans taken are borrowings, not assets.

Hint 3

Livestock is a tangible asset used over years.

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) Demand deposits with banks: major head Current Assets, sub-head Cash and Cash Equivalents.

    1 mark

  2. (ii) Long-term loans: major head Non-Current Liabilities, sub-head Long-term Borrowings.

    1 mark

  3. (iii) Livestock: major head Non-Current Assets, sub-head Property, Plant and Equipment and Intangible Assets (under Property, Plant and Equipment).

    1 mark

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

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 67/5/1: 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.