The 'Accounting Policy Changes' are applied: MCQ with Answer and Explanation

Explanation:
Management letter (letter of weakness) suggests improvements in internal controls.

Explanation:
In operating lease, lessor retains ownership and asset is in his books.

Explanation:
SEBI regulates the capital markets to protect investors and promote development. It was initially set up by an executive resolution in 1988, but it was given statutory powers by the SEBI Act, 1992. S1 is correct, S2 is incorrect as it is now a statutory body.