The 'Secretarial Audit' is mandated for: MCQ with Answer and Explanation

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The 'Secretarial Audit' is mandated for:

A. Small companies only

B. Listed companies and certain prescribed class of companies

C. All companies

D. Private companies only

Answer: Option B

Solution (By JKSSB Mock Tests)

As per Section 204 of Companies Act, 2013, secretarial audit is mandatory for listed and other prescribed companies.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Practice More Accountancy and Book Keeping Questions

Question #1

The 'Tax Invoice' under GST must be issued:

A. Before or at the time of removal/delivery of goods; for services, within 30 days

B. Quarterly

C. Monthly

D. Within 30 days of supply of goods

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Correct Answer: Option A

Explanation:
For goods, invoice is issued before/at the time of supply; for services, within 30 days (45 days for banks/insurance).

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

A 'Capital Reserve' can be used for:

A. Payment of salaries

B. Writing off revenue losses

C. Issue of bonus shares

D. Distribution of dividend

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Correct Answer: Option C

Explanation:
Capital reserve, generally, can be used for issuing fully paid bonus shares, not for dividend distribution (except some specific reserves).

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

A 'Voucher' that records non-cash transactions is called:

A. Transfer voucher (Journal voucher)

B. Cash voucher

C. Receipt voucher

D. Bank voucher

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Correct Answer: Option A

Explanation:
Non-cash transactions like depreciation, credit sales are recorded via transfer vouchers or journal vouchers.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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