Explanation:
Ind AS 109 prescribes the requirements for the recognition, measurement, impairment, derecognition, and hedge accounting of financial instruments. Ind AS 113 defines fair value and sets out its measurement framework. Both are correct.
S1: Social accounting reports the social and environmental impact of a business. S2: Social audit is a formal assessment of a company's social accounting systems. Which statement(s) is/are correct?
Explanation:
Social accounting communicates the social and environmental effects of a company's actions. Social audit is the systematic evaluation of these social accounting reports to ensure accountability. Both are correct.
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