@Binny I am a bit confused here. Do you mean to say that since the balance sheet is just for a month the Tax liability which was not going to be paid for a few months got classified as long term/non current liability ?
Dec 14 2013 03:17 AM
And had it been the case of annual B/S it would have remained as current liability ?
The balance sheet gives us the status of a company's assets and liabilities as of the Balance sheet date. What does balance sheet 'for one month' mean ?