Accounting · Accounting Standards
Consider the following statements regarding the applicability of Accounting Standards in India: I. All companies registered under the Companies Act, 2013, excluding private companies, are obligated to comply with accounting standards. II. Entities listed on Indian stock exchanges are legally obligated to comply with specific accounting standards prescribed by SEBI. III. Insurance companies must comply with relevant accounting principles and guidelines issued by IRDAI. IV. Banking and financial institutions in India adhere to accounting standards and RBI regulatory guidelines. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1II and IV Only
- 2I, III and IV Only
- 3I, II and III Only
- 4II, III and IV Only✓
Correct answer
II, III and IV Only
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