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Question

In which year was the Chartered Accountants Institute was set up ?

A
1947
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B
1948
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C
1949
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D
1950
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Solution

The correct option is C 1949
It was established on 1 July 1949 as a statutory body under the Chartered Accountants Act, 1949 enacted by the Parliament (acting as the provisional Parliament of India) to regulate the profession of Chartered Accountancy in India. ICAI is the second largest professional Accounting & Finance body in the world.

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