The auditor has to enquire under section 227 IA into different aspects related to shares allotted fo...........

Auditing Concept of Auditing

The auditor has to enquire, under section 227 (IA) into different aspects, related to shares allotted for cash for the purpose of auditor include

Shares against whose allotment cash has actually been received

Shares allotted for consideration other than cash

Shares allotted against a debt payable

All of them

- Auditors, under section 227(1A), need to inquire into various aspects related to shares allotted for cash.

- Option 1: This involves checking if cash was actually received for shares allotted.

- Option 2: This involves assessing shares allotted for something other than cash, to ensure valid consideration was exchanged.

- Option 3: This includes evaluating shares allotted against a debt payable, to ensure the debt was accurately credited.

- Option 4: Includes all of the above, meaning auditors must inquire into all these aspects related to share allotment.

Correct Answer: Option 4 - All of them

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