Which of the following is are the features of Books of Accounts being maintained by Company as per C...........

Companies Act-Phase (I & II) Audit and auditors

Which of the following is/are the features of Books of Accounts being maintained by Company as per Companies Act, 2013?

The books of accounts should mandatorily display all money expended and received, purchases and sales of goods, and the assets and liabilities of the company.

Books of account are required to be kept on an accrual basis

Books of account are required to be based on the double entry system of accounting.

Books of account represent a true and fair view of the company’s state of the affairs or its branches.

All of the above

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Explanation:

Section 128 of the Companies Act, 2013specifies the following key features related to the proper books of account as under:

The company needs to maintain the books of account with respect to items specified in clauses (i) to (iv) of sub-section 2(13) of the Companies Act, 2013 hereinafter referred as Act, which defines ‘books of account.’
The books of accounts should mandatorily display all money expended and received, purchases and sales of goods, and the assets and liabilities of the company.
Books of account are required to be kept on an accrual basis and as based on the double entry system of accounting.
It must represent a true and fair view of the company’s state of the affairs or its branches.