1. Accounting Standards for non-corporate entities in India are issued by
A) Central Govt.
B) State Govt.
C) Institute of Chartered Accountants of India. ✓
D) MCA
CA Intermediate Paper 1
Introduction to Accounting Standards MCQ
Chapter 1 • 5 Questions from ICAI Study Material
Questions
5
Est. Time
8 min
Source
ICAI Book
Question 1 of 5 0 correct | 0 wrong
Explanation:
Common Mistake:
Key Concept:
Exam Tip:
Keyboard: 1-4 to select, ← → to navigate
Sample Questions: Introduction to Accounting Standards
Preview 3 of 5 questions from Chapter 1
2. Accounting Standards
A) Harmonise accounting policies and eliminate the non-comparability of financial statements.
B) Improve the reliability of financial statements.
C) Both (a) and (b). ✓
D) manipulate the data for the management.
3. It is essential to standardize the accounting principles and policies in order to ensure
A) Transparency.
B) Consistency.
C) Comparability .
D) All the above. ✓