A company that fails to comply with CSR spending must, unless exempt, transfer the unspent amount to a:
Ageneral reserve
Bsecurities premium
Cspecified fund / Unspent CSR Account
Dbuy-back reserve
Answer & Solution
Correct answer: C. specified fund / Unspent CSR Account
Unspent CSR must go to a specified fund / Unspent CSR Account.
Related questions
Consolidated financial statements combine the financials of the parent and its:A company is required to constitute a CSR Committee of the Board if it falls within the __The persons primarily responsible for maintaining proper books of account and the company'A copy of the financial statements adopted at the AGM must be filed with the Registrar witA One Person Company and a small company are exempt from preparing the:Financial statements of a company are approved by the ___ before being signed and submitteThe activities that qualify as CSR are listed in:The format in which a company's balance sheet is to be prepared is prescribed in: