Match List – I with List – II. LIST I LIST II A. AS-3 I. Treatment of… | Accountancy Part B CUET question

Match List – I with List – II.

LIST I	LIST II
A. AS-3	I. Treatment of Goodwill
B. AS-26	II. One person company
C. Section 2(62) of Companies Act, 2013	III. Preference Shares
D. Section 43 of Companies Act, 2013	IV. Cash Flow Statement

Choose the correct answer from the options given below :

Answer & explanation

Correct answer: option 3

The correct answer is Option (3) → A-IV, B-I, C-II, D-III

Each standard or section deals with one topic.

A. AS-3 — this matches IV. Cash Flow Statement. AS-3 classifies cash flows into operating, investing and financing activities.

B. AS-26 — this matches I. Treatment of Goodwill. AS-26 (Intangible Assets) does not allow internally generated goodwill to be recorded.

C. Section 2(62) of Companies Act, 2013 — this matches II. One person company. It defines an OPC as a company with only one person as a member.

D. Section 43 of Companies Act, 2013 — this matches III. Preference Shares. It lays down when a share is a preference share.

NCERT (2026-27 edition):
Classification of Activities for the Preparation of Cash Flow Statement – “You know that various activities of an enterprise result into cash flows (inflows or receipts and outflows or payments) which is the subject matter of a cash flow statement. As per AS-3, these activities are to be classified into three categories: (1) operating, (2) investing, and (3) financing activities so as to show separately the cash flows generated (or used) by (in) these activities. This helps the users of cash flow statement to assess the impact of these activities on the financial position of an enterprise and also on its cash and cash equivalents.”

NCERT (2026-27 edition):
Applicability of Accounting Standard 26: Intangible Assets – “… 3. Internally generated goodwill should not be recognised as an asset.”

NCERT (2026-27 edition):
One Person Company (OPC) – “… Sec. 2 (62) of the companies Act, 2013, defines OPC as a “company which has only one person as a member”.”

NCERT (2026-27 edition):
Preference Shares – “According to Section 43 of The Companies Act, 2013, a preference share is one, which fulfils the following conditions : (a) That it carries a preferential right to dividend to be paid either as a fixed amount payable to preference shareholders or an amount calculated by a fixed rate of the nominal value of each share before any dividend is paid to the equity shareholders.”