For a Public Limited Company, records must be kept for how long from accounting date?

For a Public Limited Company, records must be kept for how long from accounting date?

• A. 3 years.
• B. 6 years.
• C. 9 years.
• D. 12 years.

Answer: (B)

For a Public Limited Company, accounting records must be kept for six years from the end of the accounting period. This six-year retention provides a sufficient audit trail and time to address any regulatory or tax inquiries about past transactions. So, if your accounting period ends on a given date, you keep the records for six full years from that date. Shorter periods (like three years) don’t meet the statutory requirement for accounting records, while longer periods (nine or twelve years) go beyond the standard rule unless there’s another specific need.

For a Public Limited Company, accounting records must be kept for six years from the end of the accounting period. This six-year retention provides a sufficient audit trail and time to address any regulatory or tax inquiries about past transactions. So, if your accounting period ends on a given date, you keep the records for six full years from that date. Shorter periods (like three years) don’t meet the statutory requirement for accounting records, while longer periods (nine or twelve years) go beyond the standard rule unless there’s another specific need.