Which of the Following Are Reasons Why the IASC Felt

question 23

Multiple Choice

Which of the following are reasons why the IASC felt that agriculture was an industry that needed its own industry specific standard?
I. Agriculture was considered to be an emerging industry at that time.
II. The specific exclusion of assets related to agricultural activity from other standards.
III. The nature of agricultural activity had created uncertainty or conflicts when applying traditional accounting models.
IV. Accounting guidelines for agricultural activity previously developed by national standard setters had been piecemeal.

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

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Definitions:

Majority Representation Requirements

Legal or organizational stipulations that a majority of employees in a bargaining unit must support a union for it to be recognized as their representative.

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The period during which a female carries a developing fetus inside her womb, typically lasting around nine months in humans.

Childbirth Leave

A policy or legislation that allows parents to take time off work following the birth of their child, often with pay and without losing their job.

Labour Party

A political party oriented towards promoting the interests of workers and advocating for policies that support labor rights, social justice, and egalitarianism.