1
Question
How many accounting standards presently issued by ICAI and notified by CG?
How many accounting standards presently issued by ICAI and notified by CG?
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Solution
The correct option is A 29
The Institute of Chartered Accountants of India (ICAI)
constituted the Accounting Standards Board (ASB) on 21st April, 1977 ) to
harmonise the diverse accounting policies and practices in use in India. ASB of
the ICAI has been issuing accounting standards.
Since then, it has issued 32 Accounting Standards so far,
out of which 29 are notified by Central Government.
The Institute of Chartered Accountants of India (ICAI) constituted the Accounting Standards Board (ASB) on 21st April, 1977 ) to harmonise the diverse accounting policies and practices in use in India. ASB of the ICAI has been issuing accounting standards.
Since then, it has issued 32 Accounting Standards so far, out of which 29 are notified by Central Government.
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