Question

Match List I with List II:

Choose the correct answer from the options given below:

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

Hint:

Prepaid expenses are current assets; unclaimed dividends are current liabilities; patents are intangible assets; calls in arrears reduce share capital.

Answer 1

The Correct Option is D

Step 1: Understand each term
Prepaid insurance is a payment made in advance for insurance and is classified under Other Current Assets (III).
Unclaimed Dividend is a liability representing dividend declared but not yet claimed by shareholders, classified under Other Current Liabilities (IV).
Patent is an intangible asset representing exclusive rights and classified under Intangible Assets (II).
Calls in Arrears refers to the amount not paid by shareholders on shares called up and is deducted from Share Capital (I).

Step 2: Match accordingly
A matches III
B matches IV
C matches II
D matches I

Step 3: Conclusion
Therefore, option (D) is correct.