Which of the following is NOT a fundamental accounting assumption as per AS-1?
A. Accrual
B. Going Concern
C. Consistency
D. Prudence
Answer: Option D
Solution (By JKSSB Mock Tests)
Prudence is an accounting convention, not a fundamental assumption under AS-1. The three fundamental assumptions are Going Concern, Consistency, and Accrual.
Explanation:
APBS facilitates Direct Benefit Transfers (DBT) by using the Aadhaar number as the central key for routing government subsidies to beneficiaries.
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