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SSC Audit Tax Finance P-II QUESTION #6214
Question 1
A company engaged in 'Production and Manufacturing' is required to maintain records under Section 230. If the company fails to maintain a 'Production Record' as ordered by the Commission, who is primarily liable?
  • The External Auditor
  • The Directors including Chief Executive and Chief Accountant✔️
  • The Shareholders
  • The Securities and Exchange Commission
Correct Answer Explanation
Section 230 specifically holds the directors, chief executive, and chief accountant liable for the failure to keep proper books of account, including production records.