alleryStart learning →Mandatory Ind AS from April 2016 applied to net worth of at least?
ARs 100 crore
BRs 1,000 crore
CRs 500 crore
DRs 250 crore
Answer & Solution
Correct answer: C. Rs 500 crore
The first mandatory phase covered every company with net worth of not less than 500 crores.
Keep practising Framework for preparation and presentation of financial statements
Browse all Framework for preparation and presentation of financial statements questions for CA Inter, or explore more Accounting topics.
Related questions
Before Ind AS, which accounting framework did Indian companies follow?Ind AS 107 deals with disclosures on which subject?Which standards for computing taxable income were notified in February 2015?Once a company follows Ind AS, can it revert to the old method?Ind AS are named and numbered in line with which standards?In which year was the Accounting Standards Board constituted?Cost 1,000; sale 1,150; replacement cost 1,100. Profit on replacement basis?Cumulative inflation of what level over three years may signal hyperinflation?