1241. Share can be issued at discount under section :

A. 76
B. 75
C. 79
D. 84 *

1242. The contents of statutory report are governed by :

A. Sec 157 *
B. Sec 160
C. Sec 165
D. Sec 175

1243. When auditor is not appointed within 120 days of incorporation of the company then he will be appointed by :

A. Directors
B. Shareholders
C. Corporate law authority *
D. None of the above

1244. Legal provision as to distribution of dividend are contained in:

A. Sec 248 to 251 *
B. Sec 260 to 265
C. Sec 270 to 272
D. All of the above

1245. Following section deals with the treatment of surplus arising out of revaluation of fixed assets :

A. Sec 231
B. Sec 235 *
C. Sec 240
D. None of the above

1246. The auditor of private company will be :

A. Chartered accountant
B. Cost and Management accountant
C. Master of commerce
D. No Qualification is mentioned *

1247. Scope of Audit of other than public company will be defined by :

A. Statute
B. By management
C. By agreement between client and auditor *
D. All of the above

1248. Company can issue shares at discount if it is permitted by :

A. Memorandum of association
B. Articles of association *
C. Prospectus
D. Statement in liew of prospectus

1249. Auditor is liable for :

A. Not verifying petty cash
B. Not determining stock
C. Not checking accounts properly
D. All of the above *

1250. An auditor is held criminally liable for :

A. Loss to his client
B. Neglect of his duty
C. Offences against statutory provisions *
D. Fruads