2017 · Q69
Under which Schedule of the Companies Act, 2013, the formats of financial statements are prescribed?
General Accounting Principles, Auditing and InsuranceRecording transactions
- ASchedule I
- BSchedule II
- CSchedule III
- DSchedule IV
Explanation
Schedule III of the Companies Act, 2013 prescribes the formats of the Balance Sheet and the Statement of Profit and Loss. Schedule I covers the Memorandum of Association forms, Schedule II the useful lives for depreciation, and Schedule IV the code for independent directors. Hence C.