Question

" Financial Reporting must improve:. It refers to

• A. Indian Economy
• B. RBI
• C. FII
• D. Companies

Answer 1

Answer: (A)

Indian Economy

This question explains importance of financial reporting for economic development:

1) The economy of India is characterised as a developing market economy. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). According to the IMF, on a per capita income basis, India ranked 139th by GDP (nominal) and 118th by GDP (PPP) in 2018.

2) Financial reporting is the disclosure of financial results and related information about how a country is performing over a specific period of time.

3) for measuring economic development in numbers financial reporting is essential.