Which section of the Companies Act, 2013 requires a true and fair view in a company’s financial statements?
Question and options
Which section of the Companies Act, 2013 requires a true and fair view in a company’s financial statements?
Section 123
Section 134
Section 129
Section 128
Answer and explanation
Section 129(1) requires financial statements to give a true and fair view of the state of affairs of the company, comply with the notified accounting standards and be in the form set out in Schedule III. Section 128 deals with books of account, from which the statements are prepared, and section 134 with their approval and the Board’s report.
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