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: \[ \boxed{(C)} \]