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Question

As per the provisions of the Companies Act, 2013, companies must maintain their accounts under __________________.

A
Double account system
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B
Single entry system
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C
Double entry system
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D
Duplicate account system
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Solution

The correct option is C Double entry system

Companies Act, 2013 requires every company to keep and maintain at its registered head office books of accounts and relevant documents and the financial statements for each FY (financial year) that provides a true and fair picture of the company's state of affairs which includes its branch offices and other offices.


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