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The financial statements of a company shall give a 'true and fair view' and comply with:
AIndian GAAP only
BAccounting Standards prescribed under Section 133
CInd AS only
DCompanies' Articles
Answer & Solution
Correct answer: B. Accounting Standards prescribed under Section 133
1. Section 129(1) — financial statements must comply with the Accounting Standards notified under Section 133.
2. Departure must be disclosed with reasons.
3. Hence (B).
_Source: ICAI BoS CA Inter Paper 2 — Accounts of Companies_