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Questions and Answers
ICSI has issued accounting standard
ICSI has issued accounting standard
True (A)
IFRS is the only accounting standard followed globally
IFRS is the only accounting standard followed globally
False (B)
GAAP stands for Generally Accepted Accounting Principles
GAAP stands for Generally Accepted Accounting Principles
True (A)
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Study Notes
Accounting Standards
- ICSI (Institute of Company Secretaries of India) has issued an accounting standard
Global Accounting Standard
- IFRS (International Financial Reporting Standards) is the only accounting standard followed globally
GAAP
- GAAP stands for Generally Accepted Accounting Principles
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