Question

state the objective and utility of accounting standard​

Answer 1

Answer:

THE PRIMARY OBJECTIVE OF ACCOUNTING STANDARDS ARE:

To provide a standard for the diverse accounting policies and principles.

To put an end to the non-comparability of financial statements.

To increase the reliability of the financial statements.

To provide standards which are transparent for users.

Answer 2

Answer:

To provide a standard for the diverse accounting policies and principles. To put an end to the non-comparability of financial statements. To increase the reliability of the financial statements. To provide standards which are transparent for users.

Explanation:

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