CAF-4 · Chapter 25 · Question 11 of 19
Which of the following individuals has the legal right to inspect the books of accounts of a company during business hours?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) The directors of the company.
Explanation
The books of accounts are open for inspection by the directors of the company during business hours. General shareholders do not have a statutory right to inspect the detailed books of accounts.
More Accounts and annual return MCQs
- Q13When a public company (the holding company) acquires a controlling stake in another company (the subsidiary), what obligation does the…
- Q14A listed company's financial year ended on 30 June. What is the statutory deadline for preparing and laying its annual audited financial…
- Q15What specific requirement applies to the second quarter (half-yearly) financial statements of a listed company that does not apply to the…
- Q16Holding Company (HC) acquired Subsidiary Company (SC). HC's financial year ends on 31 December, while SC's ends on 30 June. What must SC…
- Q17For how long is a company legally obligated to preserve its books of accounts and payment vouchers?