An auditor is a watchdog and not a blood haund. Audire means to hear. Main objective of audit is dependent on type of audit. Concealment of shortage by delaying the recording of cash receipt is misappropriation. Lapping is Teeming and Lading. auditing is only related to detection and not prevention. Sale to Mr. A recorded as Sale to Mr. to Read More …
Category: B.COM NOTES
Company Law MCQs Part-2
Shelf Prospectus section 31, Red herring prospectus section 32. Oral Invitation is not a prospectus. Information memorandum+ shelf prospectus =Prospectus. Untrue statement in the prospectus will result in imprisonment of 10 years A company proposing to issue red herring prospectus shall file it with the registrar at least 3 days prior to the opening of the subscription list and the Read More …
Company Law MCQs Part 1
Section 4 of the companies Act, 2013 seek to provide for the requirement with respect to the memorandum of a company. There are 7 clauses in the memorandum of Association. name clause, registered office or business location clause, objective or objects clause, liability clause, capital clause, as well as an association clause. Alteration of Memorandum can be done under section Read More …