CA Inter P1 · Chapter 1 · Question 7 of 8
Case: Sarthak Components Ltd qualifies as a Small and Medium-sized Company (SMC) under the Companies (Accounting Standards) Rules. Which of the following Accounting Standards is NOT applicable to it at all?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) AS 17, Segment Reporting
Explanation
AS 17 on Segment Reporting is not applicable to SMCs, which are given this exemption to reduce the reporting burden on smaller entities. AS 2, AS 10 and AS 9 are recognition and measurement standards that apply to all companies, including SMCs.
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