Question

Match List-I(Items) with List-II(Standards) and select the correct answer using the codes given the lists.

List-I(Items)	List-II(Standards)
I. Accounting for fixed assets	(a) AS-9
II. Revenue recognition	(b) AS-10
III. Depreciation accounting	(c) AS-3
IV. Cash flow statement	(d) AS-6

• A. I-(b), II-(c), III-(d), IV-(a)
• B. I-(d), II-(a), III-(b), IV-(c)
• C. I-(b), II-(a), III-(d), IV-(c)
• D. I-(d), II-(c), III-(b), IV-(a)

Answer 1

The correct option is C I-(b), II-(a), III-(d), IV-(c)

Indian accounting standard is the accounting standard adopted by companies in India and issued under the supervision of accounting standards board (ASB) which was constituted as a body in the year 1977.

1. Accounting for fixed assets - AS-10

2. Revenue recognition - AS-9

3. Depreciation accounting - AS-6

4. Cash flow statement - AS-3