Reserve Bank of India has stated that financial statements of banks need to be IFRS-compliant for periods beginning on or after 1 April, 2011. What is IFRS in this context?
(A)International Financial Reporting Statistics
(B)International Financial Reporting Standards
(C)International Financial Reporting Statements
(D)International Financial Reporting Systems
(E)None of them
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B option is correct
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(B).international financial reporting stamdards
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