Match List-I with List-II:List-IList-II(A) AS-3(I) Statement of profit & loss(B) Schedule III of Companies Act(II) Cash flow statement(C) Financial status of the undertaking(III) Final accounts of company(D) Performance report(IV) Balance sheetChoose the correct answer from the options given below:
- A(A) - (II), (B) - (III), (C) - (I), (D) - (IV)
- B(A) - (II), (B) - (III), (C) - (IV), (D) - (I)
- C(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
- D(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Solution & Step-by-step Explanation
Let's match the standard accounting terms:(A) AS-3 Governs the preparation of the Cash Flow Statement (II)(B) Schedule III of the Companies Act Details the formats for the Final Accounts of a company (III)(C) Financial status Represented by the Balance Sheet as it shows the assets and liabilities posture (IV)(D) Performance report Represented by the Statement of Profit & Loss over a period (I)Thus, the proper map matches option 2: (A) - (II), (B) - (III), (C) - (IV), (D) - (I).