As per Schedule III of the Companies Act, 2013 unamortised portion of the Discount on Issue of Shares/Discount on Borrowings etc. must be shown under the head:

CS Executive · Corporate and Management Accounting · PYQS · December 2023
As per Schedule III of the Companies Act, 2013 unamortised portion of the Discount on Issue of Shares/Discount on Borrowings etc. must be shown under the head:
(A) Miscellaneous Expenses
(B) Other Expenses
(C) Other Current Assets irrespective of the fact when the amount is to be amortised
(D) Either in Non-Current Assets or Other Current Assets depending on when the amount is to be amortised

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Corporate Accounting

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