Question

The ICAI so far has issued ______ accounting standards.

• A. 29
• B. 30
• C. 32
• D. 35

Answer 1

Answer: (C)

32

Accounting Standards (i.e. AS 1~32) have been issued/ amended by the Accounting Standards Board of ICAI from time to time, to establish uniform standards for preparation of financial statements, in accordance with generally accepted accounting practices (GAAP) in India and for better understanding of the users.