Which of the Following Is a True Statement in Regards

question 50

Multiple Choice

Which of the following is a true statement in regards to the International Accounting Standards Board?

• A) The IASB deals with issues caused by the lack of uniform accounting principles existing in different countries
• B) The IASB was created by the American Accounting Association
• C) The IASB develops all accounting principles to be used in the United States
• D) The IASB has the authority to audit financial statements of all US corporations

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Definitions:

Legal

Pertaining to the law or the system of rules that a particular country or community recognizes as regulating the actions of its members.

Financial

Pertaining to the management of money, investments, and other monetary transactions.

Marketing

The activities, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.