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    Question

      ICDS III deals with which of the

    following:
    A Construction Contracts Correct Answer Incorrect Answer
    B Revenue Recognition Correct Answer Incorrect Answer
    C The Effects of Changes in Foreign Exchange Rates Correct Answer Incorrect Answer
    D Borrowing Costs Correct Answer Incorrect Answer

    Solution

    ICDS III, which stands for Income Computation and Disclosure Standard III, primarily focuses on accounting principles and guidelines related to "Construction Contracts." It outlines the rules and procedures that entities should follow when recognizing revenue and expenses associated with construction projects.

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