Multiple choice

Directions: Choose the correct option for the given question.

Who is the authority for setting Accounting Standards in India?

  1. IASC

  2. ASB

  3. Institute of Chartered Accountants of India

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Accounting Standards Board (ASB) is the body constituted by the Institute of Chartered Accountants of India (ICAI) specifically to formulate accounting standards.

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