MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Consistency Concept

Accounting st...

Question

Accounting standard set by Accounting Standard Board in India are ________.

A

Recommendatory

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Mandatory

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Both (a) and (b)

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

None of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Both (a) and (b)
Accounting standard set by Accounting Standard Board in India are recommendatory as well as mandatory in India.

Suggest Corrections

thumbs-up

0

Similar questions

Q. The Institute of Chartered Accountants of India (ICAI) constituted the Accounting Standards Board (ASB) on _________, with a view to harmonizing the diverse accounting policies and practices in use in India.

Q. Accounting Standards Board of India was established in the year ______.

Q. Accounting Standard Board was set up by __________.

Q. Accounting Standard Board (ASB) was set up in

Q. Accounting Standards in India are issued by ___________.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

GAAP and Basic Accounting Concepts

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Consistency Concept

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon