Accounting · Accounting Standards
Which of the following Accounting Standards in India was initially recommendatory and later made mandatory?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1AS-4: Contingencies and Events occurring after the Balance Sheet Date
- 2AS-3: Cash Flow Statement
- 3AS-2: (Revised) Valuation of Inventories✓
- 4AS-1: Disclosure of Accounting Policies
Correct answer
AS-2: (Revised) Valuation of Inventories
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