Question

Which one of the following is not the reason for need of Accounting Standards?
a. Accountants used to follow different rules and conventions while preparing financial statements.
b. There is a need that there should be a standardized set of rules.
c.To reduce or eliminate confusing variations in the methods used in preparing financial statements.
d. To declare profits.​

Answer 1

Answer:

(b) is the answer

Explanation:

thanks bro

Answer 2

(b) there is a need that there should be a standardized set of rules is the reason for need of Accounting standards.

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