Accounting · Accounting Frameworks and Standards
Match the accounting standard frameworks and terms in LIST-I with their respective origins or core application features in LIST-II. LIST-I (Framework/Standard) A. Accounting Standards (AS) B. Ind AS C. IFRS D. International Accounting Standards (IAS) LIST-II (Origin/Core Application) I. Mandated by the Ministry of Corporate Affairs (MCA) for listed and large companies in India. II. Standards issued by the ICAI that are primarily applicable to non-listed companies. III. Principle-based standards issued by the IASB and adopted in over 140 countries. IV. Former standards issued by the IASC before it was replaced by the current global board. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-III, B-I, C-IV, D-II
- 2A-II, B-III, C-I, D-IV
- 3A-II, B-I, C-III, D-IV✓
- 4A-I, B-II, C-III, D-IV
Correct answer
A-II, B-I, C-III, D-IV
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