Format of p/l & bs in exams

RS (none) (298 Points)

30 October 2011  

Hi friends

I was going through the practice manual of Financial Reporting and I saw that mostly in all the solutions the format of the Balance Sheet was as per The Companies Act i.e. in the vertical form and not in T form. Does the format matter in the exams? Is it manadatory to present the BS in the vertical form?

Please reply. Thanks