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    Question

    Which of the following statements are not a part of the

    financial statements as per Companies Act?
    A Trial Balance Correct Answer Incorrect Answer
    B Balance Sheet Correct Answer Incorrect Answer
    C Income statement Correct Answer Incorrect Answer
    D Cashflow statement Correct Answer Incorrect Answer
    E All are included Correct Answer Incorrect Answer

    Solution

    Section 2(40) of the Companies Act 2013 say that the financial statement in relation to the company includes – a.    A Balance sheet at the end of the financial year b.    A Profit and Loss Account and in case of non-profit organizations, income and expenditure account for the financial year c.    Cash flow statement for the financial year (not mandatory for one person company, small company, dormant company or private start-up company) d.    A statement of changes in equity , if applicable e.    Explanatory notes  

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