4
Question
In India Accounting Standards are issued by _______.
In India Accounting Standards are issued by _______.
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Solution
The correct option is A ICAI
Accounting standards are written statements of uniform accounting rules and guidelines or practices for preparing the uniform and consistent financial statements and for other disclosures affecting the user of accounting information. The Institute of Chartered Accountants of India, (ICAI), which is the regulatory body for standardization of accounting policies of the country has issued Accounting Standards which are expected to be uniformly adhered to, in order to bring consistency in the accounting profession.
Accounting standards are written statements of uniform accounting rules and guidelines or practices for preparing the uniform and consistent financial statements and for other disclosures affecting the user of accounting information. The Institute of Chartered Accountants of India, (ICAI), which is the regulatory body for standardization of accounting policies of the country has issued Accounting Standards which are expected to be uniformly adhered to, in order to bring consistency in the accounting profession.
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