Question

Which of the following is treated as a non-current asset in the Balance Sheet?

• A. Cash in Hand
• B. Bank Overdraft
• C. Furniture
• D. Bills Payable

Hint:

Fixed assets such as furniture, machinery and building are classified as non-current assets.

Answer 1

The Correct Option is C

Concept: Assets are classified into:
• Current Assets
• Non-current Assets Non-current assets are long-term assets used in business operations for more than one accounting period.

Step 1: Analyzing each option.

• Cash in Hand — Current Asset
• Bank Overdraft — Current Liability
• Furniture — Non-current Asset
• Bills Payable — Current Liability

Step 2: Understanding furniture classification.
Furniture is:
• Tangible fixed asset
• Used for long-term business purposes Hence classified as non-current asset.

Step 3: Final answer.
Therefore: \[ \boxed{\text{Furniture}} \] Correct option: \[ \boxed{(C)} \]