Multiple choice

Statutory audit is compulsory for

  1. all public limited companies

  2. all private limited companies

  3. both public and private limited companies

  4. all business enterprises
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statutory audit is a legally mandated review of financial records. Under company law, all companies, whether public or private limited, are required to have their accounts audited by a qualified auditor.

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