Page 12 - IC46 addendum

General Insurance Accounts (IC-46)

events and transactions in financial
statements.

9. Which section in companies act 2013

deals with accounting standards:

a. Section 132 b. Section 133

c. Section 134 d. Section 135

e. Section 136

10. Under which section central government
may, by notification constitute a National
Financial Reporting Authority to provide
for matters relating to accounting and
auditing standards under the Act.

a. Section 132 (1) b. Section 133 (1)
c. Section 134 (1) d. Section 135 (1)
e. Section 136 (1)

11. National Financial Reporting Authority
has the power to:

a. Make a recommendations to the Central
government on formulation and laying down
of accounting and auditing policies and
standards for adoption by companies or class
of companies.

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