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Under the Companies Act, 2013, the turnover of a small company shall be determined as per:

Under s.2(85)(ii), the turnover test for a small company is applied "as per profit and loss account for the immediately preceding financial year". The current year's…

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Under the Companies Act, 2013, the turnover of a small company shall be determined as per:

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Correct answer C

Under s.2(85)(ii), the turnover test for a small company is applied "as per profit and loss account for the immediately preceding financial year". The current year's accounts, the balance sheet or a three-year average are not the measure.

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