Match List-I with List-II

List-I	List-II
(Accounting standards Section of Act.)	(Issues)
(A) AS-3	(I) Settlement Of Accounts.
(B) AS-26	(II) Firm's debt and private debt
(C) Section 48 of the Indian partnership Act	(III) Cash flow statement.
(D) Section 49 of the Indian partnership Act	(IV) Treatment of goodwill.

Choose the correct answer from the options given below:

AS-3 (Accounting Standard 3) deals with Cash Flow Statement. This standard requires enterprises to prepare and present a cash flow statement as an integral part of their financial statements, classifying cash flows into operating, investing, and financing activities.

Match: (A) → (III)

AS-26 (Accounting Standard 26) covers Intangible Assets, which includes the accounting treatment of goodwill. It provides guidelines on recognition, measurement, amortization, and disclosure of intangible assets including goodwill.

Match: (B) → (IV)

Section 48 of the Indian Partnership Act deals with the mode of Settlement of Accounts between partners after dissolution of a firm. It specifies the order in which the assets should be applied: first to pay firm's debts, then to pay advances by partners, then to return capital, and finally to distribute remaining surplus among partners in profit-sharing ratio.

Match: (C) → (I)

Section 49 of the Indian Partnership Act addresses the distinction between Firm's debts and Private debts of partners. It deals with how a partner's share should be applied when there are both firm debts and private debts, establishing priority rules for creditors.

Match: (D) → (II)

The correct matching is:

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Option 4 is correct.