alleryStart learning →How often must a foreign company prepare its balance sheet and profit and loss account?
AIn every calendar year
BOnce every five years
COnly when it is wound up
DEvery quarter of the year
Answer & Solution
Correct answer: A. In every calendar year
Section 381(1) ties the accounts to the calendar year, not the financial year used for Indian companies.
Keep practising Companies Incorporated Outside India
Browse all Companies Incorporated Outside India questions for CA Inter, or explore more Law topics.
Related questions
Old foreign companies still deliver documents under which 1956 Act section?Exemption notifications under 393A are laid before whom?Non-compliance with Chapter XXII does what to its contracts?For a continuing offence, the extra fine on a foreign company may extend to what amount peWhat is the minimum fine on a foreign company for contravening Chapter XXII?Closure of a foreign company's Indian place of business with unpaid securities money folloWhich sections on prospectus misstatement apply under section 391?Which matter do IDR rules cover?