Match List I with List II: List-IList-II (a) Ind AS 1 (i) Income Taxes. (b) Ind AS 12 (ii) Related…
Under the Indian Accounting Standards (Ind AS) notified under the Companies Act, 2013: (a) Ind AS 1 deals with 'Presentation of Financial Statements' (iv); (b) Ind AS 12…
Choose your answer
Match List I with List II:
| List-I | List-II |
|---|---|
| (a) Ind AS 1 | (i) Income Taxes. |
| (b) Ind AS 12 | (ii) Related Party Disclosures. |
| (c) Ind AS 24 | (iii) Intangible Assets. |
| (d) Ind AS 38 | (iv) Presentation of Financial Statements. |
Answer and explanation
Correct answer B
Under the Indian Accounting Standards (Ind AS) notified under the Companies Act, 2013: (a) Ind AS 1 deals with 'Presentation of Financial Statements' (iv); (b) Ind AS 12 deals with 'Income Taxes' (i); (c) Ind AS 24 deals with 'Related Party Disclosures' (ii); and (d) Ind AS 38 deals with 'Intangible Assets' (iii) (a-iv, b-i, c-ii, d-iii).
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UGC NET Commerce