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CMA Intermediate · Corporate Accounting and Auditing · Statement of Profit and Loss and Balance Sheet (Schedule III of Companies Act, 2013)

According to the Companies Act, 2013 provisions in the official text, in accordance with which section shall the balance sheet and profit and loss accounts of a Producer Company be prepared, as far as may be?

A Producer Company must prepare its balance sheet and profit and loss accounts, as far as may be, in accordance with section 129, as stated in section 378ZE(2). Section 381 applies to foreign companies and section 378ZA to annual general meetings.

  1. ASection 129Correct
  2. BSection 381
  3. CSection 378ZA
  4. DSection 378ZE

Explanation

Section 378ZE(2) says the balance sheet and profit and loss accounts of a Producer Company shall be prepared, as far as may be, in accordance with section 129. Section 381 deals with foreign companies, and 378ZA deals with annual general meetings.

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