Mastering Indian Accounting Standards (Ind AS) Quiz
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Questions and Answers

Which financial statement provides information about the changes in equity of a company over a period of time?

  • Statement of Changes in equity (correct)
  • Accounting Policies
  • Fair Value measurements
  • Related party disclosures

    • Which concept in accounting refers to the significance or importance of an item or event in the financial statements?

  • Materiality concept (correct)
  • Indian Accounting standard (Ind AS)
  • Guidance Notes on Ind AS aspects issued by the ICAI
  • Finalization of Accounts as per Ind AS

    • Which aspect of accounting focuses on the measurement and reporting of the fair value of assets and liabilities?

  • Consolidation of Accounts
  • Accounting with respect to Associates, Joint Ventures, Subsidiary etc.
  • Fair Value measurements (correct)
  • Financial Instruments

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