Question

Select the correct answer
1. IFRS are
a) rule based accounting standards
b) principle based accountir g standards
c) partly rule based and parily principle based
d) none of the above
2. IFRS are based on
a) Historical cost
b) Fair value
c) both historical and fair v lue
d) none of the above
III.
Fill in the blanks
1. Ind-As are_
based accounting standards.
2. Assets (except securities) may bi valued at_
in Ind-AS.​

Answer 1

Answer:

a is the correct answer of first mcq

Answer 2

Answer:

A is the answer for first MCQ