MCQ on Ind AS applicability_2

1.      Ind-AS stands for:

a)      Indian accounting standard

b)      International accounting standard

c)      Indian financial reporting standard

d)      None of the above

2.      Ind AS is applicable to:

a)      Individual

b)      Partnership Firms

c)      Companies

d)      Trust

3.      Ind AS was notified on which date:

a)      February 16, 2015

b)      February 16, 2016

c)      February 15, 2016

d)      February 15, 2015

4.      As per the roadmap for Ind AS adoption for first phase companies, what is the date of transition?

a)      April 01, 2016

b)      April 01, 2015

c)      March 31, 2015

d)      March 31, 2016

5.      As per the roadmap for Ind AS adoption, Net worth means?

a)      As defined in clause 2 (55)of the Companies Act 2013

b)      As defined in clause 2 (57)of the Companies Act 2013

c)      As defined in clause 2 (56)of the Companies Act 2013

d)      None of the above

Answers :   1 A , 2 C , 3 A , 4B , 5B