True and fair view in respect of financial statements means ........

Finance (Phase -I & II) Analysis of Financial Statements

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True and fair view in respect of financial statements means:

Financial statements should comply with the notified accounting standards

Financial Statements should be in form specified in Schedule III of Companies Act, 2013

Both of the above

None of the above

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Explanation:

As per Section 128 (1) and Section 128(2) of Companies Act, 2013, every financial statement of the company must give true and fair view of the state of affairs of the company at the end of financial year. True and fair view means:

Financial statements should comply with the notified accounting standards
Financial Statements should be in form specified in Schedule III of Companies Act, 2013