Multiple choice

Accounting Standard 8 is concerned with the

  1. valuation of inventories

  2. accounting for fixed assets

  3. accounting for research and development

  4. depreciation accounting
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Accounting Standard 8 (AS 8) was the standard that governed the accounting treatment for Research and Development. It was later withdrawn and its principles were integrated into AS 26 (Intangible Assets).

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