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Question

Which of the following persons is qualified for appointment as auditor of a joint stock company?
  1. A person who is indebted to the Company for Rs.2000
  2. A member, if it is a private company
  3. None of the above
  4. A body corporate
  5. An employee of the company

A
None of the above
B
A body corporate
C
An employee of the company
D
A person who is indebted to the Company for Rs.2000
E
A member, if it is a private company
Solution
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Below are all the items which falls under the negative list for appointment of auditor of a joint stock company:
  • A body corporate
  • An employee of the company
  • A person who is indebted to the company for more than Rs.1000
  • A member, if it is a private company

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