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Standard XII
Accountancy
Need for Analysis of Financial Information
The objective...
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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Need for Analysis of Financial Information
Standard XII Accountancy
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