The correct answer is: A. Leases.
Accounting Standard-19 (AS-19) is an Indian accounting standard that deals with accounting for leases. It was issued by the Institute of Chartered Accountants of India (ICAI) in 1991 and revised in 2003. The standard provides guidance on how to classify and account for leases, as well as on disclosures related to leases.
AS-19 defines a lease as “an agreement whereby the lessor conveys to the lessee in return for a consideration, the right to use an asset for an agreed period of time.” The standard classifies leases into two types: finance leases and operating leases.
A finance lease is a lease that transfers substantially all the risks and rewards of ownership of an asset to the lessee. The lessee accounts for a finance lease as an asset and a liability.
An operating lease is a lease that does not transfer substantially all the risks and rewards of ownership of an asset to the lessee. The lessee accounts for an operating lease as an expense.
AS-19 also provides guidance on how to account for lease modifications and terminations.
The standard is mandatory for all companies listed on the Indian stock exchanges. It is also recommended for use by all other companies.
The other options are incorrect because they are not covered by AS-19.
B. Discontinued operations are operations that have been disposed of or are classified as held for sale. Accounting Standard-4 (AS-4) deals with accounting for discontinued operations.
C. Intangible assets are non-monetary assets that have no physical substance and are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes. Accounting Standard-26 (AS-26) deals with accounting for intangible assets.
D. Earnings per share (EPS) is a measure of a company’s profitability. It is calculated by dividing a company’s net income by the number of shares outstanding. There is no accounting standard that deals specifically with EPS.