Question

statement of profit and loss is prepared under which format of companies Act

Answer 1

Answer:

$\huge{ \underline{ \mathtt{ \red{ ☆A} \pink{N} \green{S} \blue{W} \purple{E} \orange{R}}}}$

Explanation:

The balance sheet of a company is prepared as per the format prescribed in part I of Schedule III of the Companies Act, 2013. The Schedule III prescribes only the vertical format for presentation of financial statements. Thus, a company will now not have an option to use horizontal format for the presentation of financial statements.

keep smiling:)

thanks for asking;)