alleryStart learning →Which source must management consider first when no Ind AS directly applies?
AInd AS on similar issues
BAccepted industry practice
CIASB pronouncements
DFramework definitions
Answer & Solution
Correct answer: A. Ind AS on similar issues
The descending order starts with Ind ASs on similar and related issues and then moves to the Framework.
Keep practising Ind AS 8 Accounting Policies, Changes in Accounting Estimates and Errors
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