Accounting Standards
Commerce ⇒ Accountancy
Accounting Standards starts at 11 and continues till grade 12.
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See sample questions for grade 11
Describe the process of formulation of accounting standards in India.
Explain the difference between accounting concepts and accounting standards.
Explain the need for accounting standards in India.
Explain the role of the Accounting Standards Board (ASB) in India.
Explain the term 'comparability' in the context of accounting standards.
Explain the term 'disclosure' as used in accounting standards.
Explain the term 'harmonization' in the context of accounting standards.
List any two limitations of accounting standards.
State any two areas covered by accounting standards in India.
State any two benefits of accounting standards.
State any two factors considered while formulating accounting standards.
What is the main objective of accounting standards?
What is the meaning of 'compliance' with accounting standards?
