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Debenture Redemption Reserve

Where a speci...

Question

Where a special permission has been granted by the registrar the 'financial year' of a company may at the most be ________________.

A

Extended to 13 months

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B

Extended to 15 months

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C

Extended to 18 months

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D

Extended to 20 months

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Solution

The correct option is C Extended to 18 months
Generally, a financial year of a company is 12 months but a newly formed company with a special permission from the registrar of the company can extend its financial year upto 18 months.

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