How do Sections 6-12 differ from the initial Cost Accounting Standards issued by the ICAI? Question 15Answer a. They have been mandated for application for more than a year b. They address only international accounting practices c. They are only advisory in nature d. They have been retracted
The correct answer is:
a. They have been mandated for application for more than a year
Sections 6-12 of the Cost Accounting Standards issued by the ICAI (Institute of Chartered Accountants of India) differ from the initial standards in that they have been mandated for application, indicating a requirement for compliance rather than being merely advisory or retracted.