The Functions of the Australian Accounting Standards Board Include: I

question 28

Multiple Choice

The functions of the Australian Accounting Standards Board include: I. development of a conceptual framework for the purpose of evaluating proposed accounting standards.
II) making accounting standards for the purpose of the Corporations Act.
III) participating in and contributing to the development of a single set of accounting standards for worldwide use.

• A) I only.
• B) II and III only.
• C) I and III only.
• D) I, II and III.

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Definitions:

Muscular Activity

Physical actions or movements resulting from the contraction and relaxation of muscle groups.

Autonomic Nervous System

A subdivision of the peripheral nervous system that controls bodily functions not consciously directed, such as breathing, the heartbeat, and digestive processes.

Ventricles

The two lower chambers of the heart which receive blood from the atria and pump it into the arteries.

Subarachoid Space

The Subarachnoid Space is the area between the arachnoid membrane and pia mater around the brain and spinal cord, containing cerebrospinal fluid.