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Question

As per Schedule in of the Companies Act, 2013, a Company shall disclose by way of notes additional information regarding aggregate expenditure and income in relation to any item of income or expenditure which exceeds:

A 0.5% of the revenue from operations Correct Answer Incorrect Answer
B 10,000 Correct Answer Incorrect Answer
C 1% of the revenue from operations or 1,00,000, whichever is higher. Correct Answer Incorrect Answer
D 0.5% of the revenue from operations or 10,000, whichever is less. Correct Answer Incorrect Answer
E 1,00, 000 Correct Answer Incorrect Answer

Solution

As per Schedule III of the Companies Act, 2013, companies are required to disclose, by way of notes, additional information regarding any item of income or expenditure that exceeds 1% of the revenue from operations or 1,00,000, whichever is higher. This additional information is essential for providing more detailed insights into the financial statements.

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