Which of the following is not included in the conditions satisfied by the small and medium companies (SMCS) with reference to applicability of Accounting Standards?

CS Executive · Corporate and Management Accounting · PYQS · December 2019
Which of the following is not included in the conditions satisfied by the small and medium companies (SMCS) with reference to applicability of Accounting Standards?
(A) Company is not a holding company or subsidiary of a non-SMC.
(B) Company is not a bank or financial institution or insurance company.
(C) Company's turnover does not exceed ₹10 crores in the immediately preceding accounting year.
(D) Equity and debt securities of the company are not listed or are not in the process of listing in any stock exchange, whether in India or outside India.

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Financial Accounting

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic