Which one of the following statements is correct ?
(A) Audit of an educational institution is compulsory if it is run by a charitable trust
(B) A club is treated as a commercial establishment
(C) The accounts of a charitable trust can be audited by any person who belongs to the accountancy profession
(D) Audit of a charitable trust is not compulsory under law
Answer: Audit of an educational institution is compulsory if it is run by a charitable trust