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Questions and Answers
What is the vision pursued by the Institute of Cost Accountants of India?
What is the vision pursued by the Institute of Cost Accountants of India?
- Cost competitiveness, cost management, efficient use of resources, and structured approach to cost accounting (correct)
- Emphasis on tax planning and evasion
- Maximizing profits and minimizing expenses
- Promotion of traditional accounting methods
What is the primary obligation of the Institute of Cost Accountants of India?
What is the primary obligation of the Institute of Cost Accountants of India?
- Providing legal services to businesses
- Promoting marketing strategies
- Regulating the profession of Cost and Management Accountancy (correct)
- Maximizing shareholder wealth
What year was the Institute of Cost Accountants of India established?
What year was the Institute of Cost Accountants of India established?
- 1959 (correct)
- 1980
- 1965
- 1972
What are professionals associated with the Institute known as?
What are professionals associated with the Institute known as?
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What does the Institute provide for its students as part of its obligation?
What does the Institute provide for its students as part of its obligation?
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Study Notes
Vision and Obligations of the Institute of Cost Accountants of India
- The Institute of Cost Accountants of India pursues a vision of being a premier professional institution, committed to the development and regulation of the profession of cost accountancy.
History and Establishment
- The Institute of Cost Accountants of India was established in 1959.
Professionals Associated with the Institute
- Professionals associated with the Institute of Cost Accountants of India are known as Cost Accountants.
Obligations to Students
- As part of its primary obligation, the Institute provides technical guidance, training, and education to its students.
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