A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Correct answer: (a) 1 only
Explanation
Statement 1 is correct because ICAI is a statutory body established under the Chartered Accountants Act, 1949. Statement 2 is incorrect because ICAI operates under the Ministry of Corporate Affairs, not the Ministry of Finance.
Same topic · past papers
UPSC has asked this before
These previous-year questions sit on the same topic. Open one to practise the earlier ask.
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