Today's PCC Audit paper is easy as compared to last attemp paper because they asked direct questions.
Sandeep Pandey
(CA FINAL)
(1306 Points)
Replied 08 November 2009
Ya i agree with u.............................................
rashmi
(Student of IPCC Nov 2009)
(136 Points)
Replied 08 November 2009
Q 2 samajh me hi nahi aaya???
CA.PRAMOD KUMAR PANDA
(Chartered Accountants)
(204 Points)
Replied 09 November 2009
In the case cited in Question No:2(a)-PCC-Audit, the Board has contributed more than 5% of the average net profits as determined in accordance with the provisions of Section 349 and 350 during the last three years, which works out to Rs.75000/- and therefore contravenes the provisions of section-293(1)(e) of the Companies Act,1956.
CA.PRAMOD KUMAR PANDA
(Chartered Accountants)
(204 Points)
Replied 09 November 2009
As I know the power of the Board of Directors and the restriction thereof as per Companies Act, i.e. section 293 is not included in PCC Course. It seems the question is out of course.
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