The following are the items appearing in the Equities and Liabilities side of the Balance Sheet A De...........

Accountancy (CUET) Analysis of Financial Statements

The following are the items appearing in the Equities and Liabilities side of the Balance Sheet:

(A) Deferred Tax Assets (Net)

(B) Reserve and Surplus

(D) Long-term Borrowings

(E) Long-term Loans and Advances

Choose the correct answer from the options given below:

This questions was previously asked in

CUET ACCOUNTANCY Previous Year Paper (2023)

(A), (B), and (C) only

(B), (C), and (D) only

(B), (C), (D), and (E) only

(A), (D), and (E) only

The Equity and Liabilities side of a Balance Sheet consists of Shareholders' Funds, Non-Current Liabilities, and Current Liabilities.

Deferred Tax Assets (Net) (A) – This is an asset and should appear on the Assets side of the Balance Sheet. (Not included)
Reserve and Surplus (B) – This falls under Shareholders' Funds and is included on the Equity and Liabilities side. (Included)
Deferred Tax Liabilities (Net) (C) – This is a long-term liability and appears on the Liabilities side. (Included)
Long-term Borrowings (D) – This is a non-current liability and appears on the Liabilities side. (Included)
Long-term Loans and Advances (E) – This is an asset (given as a loan to others), so it appears on the Assets side. (Not included)

Thus, the correct set of items appearing on the Equity and Liabilities side is (B), (C), and (D).

Correct Answer: (b) (B), (C), and (D) only