CA Sanidhya Saraf

Amendment Based MCQ - Audit , Nov 20

1) “Government company” means any company in which not less than fifty-one per cent of the _______
is held by the Central Government, or by any State Government or Governments, or partly by the
Central Government and partly by one or more State Governments, and includes a company which is a
subsidiary company of such a Government company.

a) paid-up share capital

b) total voting power

c) equity-share capital

d) reserves

Ans- b

2) Every auditor referred to in Rule 3 shall file a return with the NFRA on or before ________ every year
in Form NFRA-2.

a) 30 June

b) 30 September

c) 30 November

d) 31 March

Ans- c

Amendments in sec 132

3) As per Section 132(4) of the Companies Act, 2013 as amended by the Companies Amendment Act,
2019, National Financial Reporting Authority, where professional or other misconduct is proved, have
the power to make order for imposing penalty of not less than ______ but which may extend to _____
times of fess received in case of individuals.

a) one lakh rupees, five times

b) one lakh rupees, ten times

c) five lakh, ten times

d) five lakh, five times

Ans- a
Penalty of non-compliance section 450.

4) As per Section 132(4) of the Companies Act, 2013 as amended by the Companies Amendment Act,
2019, National Financial Reporting Authority, where professional or other misconduct is proved, have
the power to make order for imposing penalty of not less than ______ but which may extend to _____
times of fess received in case of firms.

a) one lakh rupees, five times

b) one lakh rupees, ten times

c) five lakh, ten times

d) five lakh, five times

Ans- c

Penalty of non-compliance section 450.

5) As per Section 132(4) of the Companies Act, 2013 as amended by the Companies Amendment Act,
2019, National Financial Reporting Authority, where professional or other misconduct is proved, have
the power to make order performing any valuation as provided under section 247, for a minimum
period of _______ or such higher period not exceeding ten years as may be determined by the National
Financial Reporting Authority.

a) three months

b) five months

c) six months

d) nine months

Ans- c

Penalty of non-compliance section 450.