Explanation:
Internal check is a continuous, routine system where the work of one employee is automatically checked by another. Internal audit is a separate, continuous appraisal system by specialized staff. They are not the same. A is true, R is false.
S1: In a cash flow statement under Ind AS 7, dividends paid can be classified as either operating or financing activities. S2: Interest paid can be classified as either operating or financing activities. Which statement(s) is/are correct?
Explanation:
Ind AS 7 allows flexibility. Dividends paid can be classified as financing (cash outflow for financing) or operating (to assist in determining cash from operations). Interest paid can be operating or financing. Both are correct.
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