AS 11 deals with which topic?
AConstruction Contracts
BThe Effects of Changes in Foreign Exchange Rates
CRevenue Recognition
DGovernment Grants
Answer & Solution
Correct answer: B. The Effects of Changes in Foreign Exchange Rates
1. Step 1: Per the AS table, AS 11 = The Effects of Changes in Foreign Exchange Rates (Revised), applicable 01/04/2004.
2. Step 2: AS 7 is Construction Contracts; AS 9 is Revenue Recognition; AS 12 is Grants.
Step 3: Hence (A) is correct.