2017 · Q60
In the context of accounting, the term IFRS stands for
General Accounting Principles, Auditing and InsuranceRecording transactions
- AInternational Financial Reporting Standards
- BIndian Financial Reporting Standards
- CIndian Financial Reporting System
- DInternational Financial Reporting System
Explanation
IFRS stands for International Financial Reporting Standards, issued by the International Accounting Standards Board and adopted across 140+ jurisdictions. There is no official Indian Financial Reporting Standards/System under this acronym. Hence A.