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Question

The objective of accounting standard is to ___________.

A
bring uniformity in financial reporting
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B
ensure consistency and comparability of data with earlier years on with similar organizations
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C
both a & b
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D
establishment of law
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Solution

The correct option is A both a & b
The objective of accounting standard is to
1. bring uniformity in financial reporting
2. ensure consistency and comparability of data with earlier years on with similar organizations

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