Home › CS Executive › corpacc › Introduction to Financial and Corporate Accounting › Final accounts of a company are governed by a sp…
Final accounts of a company are governed by a specific Chapter and section range of the Companies Act, 2013. Which Chapter and section range deals with legal provisions relating to the Accounts of Companies?
Answer & Solution
Correct answer: C.
1. The lesson identifies the legislative anchor of company accounts.
2. Chapter IX of the Companies Act, 2013 covers the Accounts of Companies.
3. The provisions span Sections 128 to 138.
4. Chapter VII covers management/meetings, XII covers directors' meetings, XX covers winding up.
_Source: ICSI CS Executive Paper 5 (Corporate and Management Accounting) — Lesson 1 & 2: Introduction to Financial and Corporate Accounting, pp. v–vii and x._
Related questions
The lesson sketches a nine-step accounting cycle. Which step is described in the cycle as The Time Period assumption is one of the four listed accounting assumptions. Which statemeThe Business Entity assumption is one of the four listed accounting assumptions. Which staAccounting Standards (AS) are described in the lesson as written policy documents issued bRevenue Realisation is listed in the lesson as an accounting concept. Under this concept, Consistency is listed by the lesson as one of the accounting constraints. Which statement Full Disclosure is listed by the lesson as one of the accounting concepts. Which statementThe Matching concept is listed by the lesson alongside Revenue Realisation under the broad