FKZ Ltd. is a public limited company carrying business of manufacturing the electric products having a paid up capital of ₹75 crore and turnover of ₹250 crore as per latest audited financial statement. Answer the followi
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · June 2019
FKZ Ltd. is a public limited company carrying business of manufacturing the electric products having a paid up capital of ₹75 crore and turnover of ₹250 crore as per latest audited financial statement. Answer the following: Define 'Turnover' as per section 2(91) of the Companies Act, 2013.
Answer & Explanation:
As per section 2(91) of the Companies Act, 2013, "Turnover" mean the gross amount of revenue recognised in the profit and loss account from the sale, supply, or distribution of goods or on account of services rendered, or both, by a company during a financial year.
Topics: Companies Act, 2013
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