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AS
Question Practice

What is the impact on 'Equity and Liabilities' for 'Calls in Advance' on the balance sheet?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - II
Accounting for Share Capital
Question Bank

What is the impact on 'Equity ...

Single Answer MCQ
Q-00082479

What is the impact on 'Equity and Liabilities' for 'Calls in Advance' on the balance sheet?

1

It is added to paid-up capital

2

It is shown as a current liability

3

It is ignored in financial statements

4

It increases fixed assets

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