Question

of
2 A company prepares statement of profit and loss account
in the form prescribed in the companies
act -
a) 1932
b) 1950
c) 1945
d) 2013​

Answer 1

Explanation:

Companies Act, 1956 (The Act) which provides the instructions for the preparation of the Balance Sheet and Statement of the Profit & Loss of the Company. The purpose for revising the reporting format of the financial accounts of the Company was mainly to bring it in par with the International Financial Reporting Standards (IFRS). The financial statements prepared as per the revised Schedule VI

Answer 2

Explanation:

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