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In India, which body issues Accounting Standards for companies?

  1. A SEBI
  2. B The Institute of Chartered Accountants of India, notified by the Ministry of Corporate Affairs
  3. C The Reserve Bank of India
  4. D The Income Tax Department
Answer

The Institute of Chartered Accountants of India, notified by the Ministry of Corporate Affairs

ICAI formulates the standards and the Ministry of Corporate Affairs notifies them under the Companies Act. SEBI regulates listed entity disclosures separately.

All Accounting MCQs

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