Question

What does Schedule III of the Companies Act, 2013, contain?

a.

General instructions for the preparation of Balance Sheet and Statement of Profit and Loss of a company.

b.

Specific guidelines for mutual funds only.

c.

Guidelines for private companies only.

d.

Instructions for preparing the income statement.

Answer: (a).General instructions for the preparation of Balance Sheet and Statement of Profit and Loss of a company. Explanation:Schedule III of the Companies Act, 2013, contains general instructions for the preparation of the Balance Sheet and Statement of Profit and Loss of a company.

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Q. What does Schedule III of the Companies Act, 2013, contain?

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