Question

Match List-I with List-II

	LIST I: Major Head		LIST II: Sub Head
(A)	Fixed assets	(I)	Short term provisions
(B)	Current Assets	(II)	Money received against share warrants
(C)	Current Liabilities	(III)	Non current investment
(D)	Shareholder's Funds	(IV)	Inventories

Choose the correct answer from the options given below:

• A. A-IV, B-I, C-II, D-III
• B. A-III. B - IV, C-I. D-II
• C. A-I. B-IV, C-II, D - III
• D. A-II. B-I. C-IV, D-III

Answer 1

The Correct Option is B

To solve the given matching problem, we need to align the major heads from List-I with the corresponding subheads from List-II based on the accounting classification.

1. Fixed assets: These are long-term investments and properties that a company owns, which are not expected to be converted into cash in the near future. They align with Non current investment, making the pair (A-III).
2. Current Assets: These are assets that can be easily converted into cash within a year. They typically include Inventories, establishing the pair (B-IV).
3. Current Liabilities: These are obligations that a company needs to pay off within a year. They correspond to Short term provisions, forming the pair (C-I).
4. Shareholder's Funds: This is the equity that belongs to shareholders. Money received against share warrants falls under this category, which creates the pair (D-II).

Thus, the correct matching of List-I with List-II is: A-III, B-IV, C-I, D-II.