A. Matters already disclosed in financial statements
B. Matters other than those presented or disclosed in the financial statements that are relevant to understanding the audit, auditor's responsibilities, or report
C. Qualification
D. Adverse opinion
Answer: Option B
Solution (By JKSSB Mock Tests)
Other Matter deals with matters not in the financial statements.
Under the Companies Act 2013, the 'Independent Directors' must hold a special training as per Section 149. Who is exempted from this training requirement?
A.A person who has already undergone the training or is a whole-time director in a listed company
B.A qualified Chartered Accountant or Company Secretary
C.A person who has been a director for more than 10 years
Explanation:
The Companies Act exempts individuals who have already undergone the prescribed independent director training, or those who are already serving as whole-time directors in listed companies, from the mandatory training requirement.
Explanation:
Normal loss is expected; its scrap value, if any, reduces the cost of good units. The loss quantity is deducted, and cost per unit is computed on input minus normal loss.
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