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For the purposes of AS applicability under the Companies Act 2013, who notifies the ASs?
ASEBI
BRBI
CMinistry of Corporate Affairs
DICAI directly
Answer & Solution
Correct answer: C. Ministry of Corporate Affairs
1. Step 1: Ch 3 specifies MCA notifies AS for corporates.
2. Step 2: ICAI issues ASs for non-corporates; MCA does so for corporates.
3. Step 3: Hence (C).
_Source: ICAI BoS CA Inter Paper 1, Ch 3 "Applicability of Accounting Standards"_