The correct answer is option 1- (A)-(III), (B)-(I), (C)-(IV), (D)-(II).
| LIST I |
LIST II |
| A) Accounting standard rules |
(III) 2006 |
| B) Companies Act |
(I) 2013 |
| C) Financial statement of company |
(IV) Schedule III |
| D) Partnership Act |
(II) 1932 |
(A) Accounting standard rules- (III) 2006.
The Companies (Accounting Standards) Rules, 2006 were notified by the Ministry of Corporate Affairs (MCA) to make Accounting Standards mandatory for companies. These rules ensure companies follow uniform accounting principles for transparency and comparability in financial reporting.
(B) Companies Act- (I) 2013.
The Companies Act, 2013 is the main legislation governing the formation, management, and regulation of companies in India. It replaced the old Companies Act, 1956, and introduced major reforms like corporate governance, audit rotation, and enhanced disclosure norms.
(C) Financial statement of company- (IV) Schedule III.
Schedule III of the Companies Act, 2013 provides a format and structure for preparing the financial statements (Balance Sheet, Profit & Loss, etc.). All companies must follow Schedule III for consistency in how financial data is presented.
(D) Partnership Act- (II) 1932.
The Indian Partnership Act, 1932 governs partnerships in India. It defines what a partnership is, how it is formed, rights and duties of partners, and the process of dissolution. |
