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     EduGorilla 
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    With reference to the concept of accounting standards, consider the following statements :

    (I) An accounting standard is a guideline for financial accounting, such as how a firm prepares and presents its business income, expenses, assets and liabilities.

    (II) Accounting standards lay down the terms and conditions of accounting policies and practices

    (III ) Accounting standards do not facilitate intra-firm and inter-firm comparison

    (IV) Accounting standards relate to all aspects of an entity’s finances including assets, liabilities, revenue, expenditures and equity.

    Which of the following statements are correct ?

    Options :-

    1.  I , II and III

    2.  I, II and IV

    3.  II, III and IV

    4. I, II , III and IV

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