Question
What is the mode adopted by the Reporting Entity under
the Prevention of Money-Laundering Act, 2002 for the Verification of the Identity of its clients and the beneficial owner?Solution
Section 11A - Verification of Identity by Reporting Entity- —(1) Every Reporting Entity shall verify the identity of its clients and the beneficial owner, by— (a) authentication under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 if the reporting entity is a banking company; or (b) offline verification under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016; or (c) use of passport issued under section 4 of the Passports Act, 1967; or (d) use of any other officially valid document or modes of identification as may be notified by the Central Government in this behalf
An annuity that starts at a predetermined date in the future is called as:
What is the ceiling on the number of audits in case of an individual?
Which among the following deals with Accounting for Inventories?
Plant purchased for ₹6,00,000. Depreciation for year = ₹1,00,000. Closing balance of Plant = ₹10,00,000. Opening balance was ₹5,00,000. Calculat...
As per AS 10 (Revised) ‘Property, Plant and Equipment’, an enterprise holding investment properties should value Investment property:
ABC Ltd. projected sales of 45000 jeans trousers for the year 2016. The estimated stock on January 1st, 2016 is 3000 units and the desired stock on 31st...
What best describes a Bank Guarantee?
In which of the following situations is a Special Audit required?
a) When there is suspicion of financial mismanagement
b) When a company ...
If the realisable value of security held by a bank is less than what percentage of the exposure, the asset is treated as unsecured (loss asset)?
According to The Companies Act 2013, which of the following is not regarded as a feature of a Company?
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