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Q1. Accounting Standards for non-corporate entities in India are issued by

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Q2. Which committee is responsible for approval of accounting standards and their modification for the purpose of applicability to companies?

[{"selector":"#anim-c496ea7b-551e-43ed-8eba-0cab29fb2c8b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] - NFRA - MCA - Central Government Advisory Committee. Answer: 2 Learn more

Q3. Additional guidance given in Ind AS over and above what is given in IFRS are called

[{"selector":"#anim-5906689d-765f-4779-9755-f1150a62bc77 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] - Carve-outs. - Carve-ins - Carve clarifications. Answer: 2 Learn more

Q4. IASB stands for

[{"selector":"#anim-b128536b-2eaa-46c2-a30f-87aaeda631e5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] - International Accounting Standards Bureau - International Advisory Standards Board - International Accounting Standard Board. Answer: 3 Learn more

Q5. IFRS stands for

[{"selector":"#anim-52e85120-e04e-497d-b459-9e62ad55e33f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] - International Accounting Standards Bureau - International Advisory Standards Board - International Accounting Standard Board. Answer: 3 Learn more

Q6. Phase I of Ind AS was applicable to:

[{"selector":"#anim-c757d343-bc3a-47d3-b2b8-076bc8315df0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":3000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] - All listed companies in India or outside India - Companies with turnover INR 500 crores or more - Companies with net worth INR 500 crores or more. Answer: 3 Learn more