Multiple choice

Which among the following statements is not correct?

  1. In India, the accounting standards are issued by Accounting Standards Board under ICAI.

  2. Compliance with accounting standards is the duty of Auditor.

  3. Single entry system is a scientific method of accounting.

  4. Accounting standard 6 relates to depreciation accounting.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Correct Answer: Single entry system is a scientific method of accounting.

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