1 point 2. Which of the following Auditing Assurance Standard deals with Audit planning? * A. AAS-7. B. AAS-8. C. AAS-9.
D. AAS-3
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ans is c) AAS-9 HOPE THIS IS HELPFUL
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C. AAS-9
- Auditing, Review, and assuring including Other Standards are the standards issued by the Institute of Chartered Accountants of India under the Companies Act 2013 mandate the auditors to comply and deal with auditing standards and its assurance.
- As per the AS 9 Revenue Recognition and Records issued by the Institute of Chartered Accountants “Revenue is the gross inflow of cash, receivables or other consideration arising in the course of the ordinary activities of an enterprise from the sale of goods, rendering of services & from various other sources like interest, royalties & dividends”.
- Auditing refers to the on-site verification activity, such as inspection or examination or invigilation, of a process or quality system and accounting, to ensure compliance to requirements and accuracy along with perfect analysis.
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