Financial Statements of a Company · Class 12 · CBSE · Commerce Accountancy
Which of the following items is shown under the sub-head 'Intangible Assets' in the Balance Sheet of a company?
Practice question from Financial Statements of a Company (Class 12 · CBSE · Commerce Accountancy), with the correct answer and a step-by-step solution.
easy · MCQ · Q-DF6DEF
Which of the following items is shown under the sub-head 'Intangible Assets' in the Balance Sheet of a company?
- A.Capital Work-in-Progress
- B.Mining RightsCorrect answer
- C.Stores and Spares
- D.Loose Tools
Solution
Mining rights grant the holder intellectual or legal privilege to extract minerals, which are treated as intangible assets under the Companies Act, 2013.
More from Financial Statements of a Company
- As per Schedule III Part I of the Companies Act, 2013, under which major head and sub-head is 'Unpaid Dividend' shown in the Balance Sheet…
- Under which head in the Statement of Profit and Loss of a company is 'Loss on Sale of Machinery' recorded?
- Which of the following is classified as a 'Short-term Provision' in a company's Balance Sheet?
- In the context of the Statement of Profit and Loss, how are 'Finance Costs' defined or categorized?
Practise more Accountancy
Sign up free for adaptive practice on this chapter, with instant feedback and hints on every question.
Start practising freeFree to start · No credit card needed