📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    Question

    What is accounting standard-3 (revised) associated

    with?
    A Fund flow statement Correct Answer Incorrect Answer
    B Cash flow statement Correct Answer Incorrect Answer
    C Depreciation Correct Answer Incorrect Answer
    D Amalgamation of companies Correct Answer Incorrect Answer

    Solution

    AS 3 (Revised) is titled "Cash Flow Statements." It provides guidance on the preparation and presentation of the cash flow statement, which is an important financial statement that shows the inflows and outflows of cash and cash equivalents during a specific period. The cash flow statement classifies cash flows into three categories: operating activities, investing activities, and financing activities. It helps users of financial statements, such as investors, creditors, and management, to assess the company's ability to generate cash, its cash needs, and how it is using and managing its cash resources.

    Practice Next
    More Accounts Questions
    ask-question