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    Question

    The National Financial Reporting Authority shall consist

    of a chairperson, who shall be a person of eminence and having expertise in accountancy, auditing, finance, or law to be appointed by the Central Government and such other member   ____________________
    A Not exceeding fifteen members Correct Answer Incorrect Answer
    B Not exceeding fifteen consisting of part-time members as may be prescribed Correct Answer Incorrect Answer
    C Not exceeding fifteen consisting of full-time members as may be prescribed Correct Answer Incorrect Answer
    D Not exceeding fifteen consisting of part-time and full-time members as may be prescribed Correct Answer Incorrect Answer

    Solution

    Companies Act Section 132. Constitution of National Financial Reporting Authority: (3) The National Financial Reporting Authority shall consist of a chairperson, who shall be a person of eminence and having expertise in accountancy, auditing, finance or law to be appointed by the Central Government and such other member not exceeding fifteen consisting of part-time and full-time members as may be prescribed.

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