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Which AS deals with 'Provisions, Contingent Liabilities and Contingent Assets'?
AAS 4
BAS 11
CAS 26
DAS 29
Answer & Solution
Correct answer: D. AS 29
1. Step 1: AS 29 = Provisions, Contingent Liabilities and Contingent Assets (Revised), applicable 01/04/2004.
2. Step 2: AS 4 deals with events after the BS date.
3. Step 3: Hence (D) is correct.
_Source: ICAI BoS CA Inter Paper 1, Ch 1 "Introduction to Accounting Standards"_