Q. According to Section 128 of the Companies Act, 2013, where can a company keep its books of account and relevant papers?

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Q. What does Section 129 of the Companies Act, 2013, state regarding financial statements?

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Q. According to Section 129, which companies are exempt from the requirements of disclosing certain matters in their financial statements?

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Q. What is the requirement under Sub-section (2) of the Companies Act, 2013, regarding financial statements at an annual general meeting?

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Q. In addition to financial statements under Sub-section (2), what does a company with subsidiaries need to prepare according to Sub-section (3)?

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Q. What is the basis for the presentation of general-purpose financial statements, ensuring compatibility with previous periods and other entities in the same industry, according to lAS 1?

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Q. Which of the following is NOT a basic requirement of lAS 1 for financial statements?

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Q. According to lAS 1, what is the requirement for entities whose financial statements comply with IFRS?

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Q. In terms of lAS 1.112, what must the notes to the financial statements include?

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Q. lAS 1.114 suggests presenting notes in which order?

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Q. What is the purpose of presenting notes in the order suggested by lAS 1.114?

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Q. According to Schedule III of the Act 2013, if compliance with the requirements of the Act necessitates any change in the financial statements, how should companies proceed?

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Q. How does Schedule III specify the relationship between its disclosure requirements and the Accounting Standards prescribed under the Companies Act, 2013?

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Q. What is the purpose of cross-referencing each item on the face of the Balance Sheet and Statement of Profit and Loss to related information in the notes to accounts?

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Q. How should figures in the Financial Statements be rounded off based on the turnover of the company?

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Q. When should corresponding amounts (comparatives) for the immediately preceding reporting period be given in the Financial Statements?

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Q. What criteria classify an asset as current?

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Q. How is the operating cycle defined in the context of balance sheet preparation?

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Q. What classifies a liability as non-current?

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Q. When is a receivable classified as a 'trade receivable'?

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