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Ind AS apply to which class of Indian companies?
AOnly listed companies
BAll companies regardless of size
COnly banking companies
DCertain class of companies as per the MCA roadmap (e.g. listed and large net-worth companies)
Answer & Solution
Correct answer: D. Certain class of companies as per the MCA roadmap (e.g. listed and large net-worth companies)
1. Step 1: Per Ch 1, Ind AS apply mandatorily to certain class of companies per the MCA roadmap.
2. Step 2: Roadmap covers listed companies and unlisted companies above net-worth thresholds.
3. Step 3: Hence (C).
_Source: ICAI BoS CA Inter Paper 1, Ch 3 "Applicability of Accounting Standards"_