excluding the extent to which the qualifying assets are directly funded out of specific borrowings; C. The average of the amount of total assets as appearing in the Balance sheet of a person on first day & the last day of the previous year, other than assets to the extent they are directly funded out of specific borrowings;
The Balance sheet of a business concern can be presented in the following two forms. i. Horizontal form or the Account form. ii. Vertical form or Report form. Horizontal form of Balance Sheet: The right hand side of the balance sheet is asset side and the left hand side is liabilities side. All accounts having debit balance will appear in the asset side and all those having credit balance will appear in the liability side.