Theoretical Framework-Accounting Standards (CA Foundation Principles of Accounting): Questions 1 - 11 of 11

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Question number: 1

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What is the meaning of convergence?

Question number: 2

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Who are the users of the financial reports?

Question number: 3

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What is meant by the term accounting standard?

Question number: 4

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What are the advantages of setting accounting standards?

Question number: 5

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How does the ASB formulate accounting standards?

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Question number: 6

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Mention the accounting standards in India briefly?

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Question number: 7

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What is the need to standardize accounting principles and policies?

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Question number: 8

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Who formulates the accounting standards in India?

Question number: 9

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What are the objectives of Accounting Standards?

Question number: 10

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What are the issues dealt by the accounting standards?

Question number: 11

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Are the accountings standards free from limitations? State reasons for your answer?

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