Which of the Following Statements Is Correct About the Controversial

question 7

Multiple Choice

Which of the following statements is correct about the controversial issues surrounding AASB 8/IFRS 8?

• A) The management approach adopted in AASB 8/IFRS 8 was argued to put preparers' needs ahead of users' needs.
• B) The European Parliament was not able to endorse AASB 8/IFRS 8 due to strong oppositions from European countries.
• C) Despite the objections from different parties, all IASB board members at the time unanimously agreed that AASB 8/IFRS 8 should replace AASB 114.
• D) The proponents of AASB 114 argued that AASB 8/IFRS 8 contains too many mandatory disclosure requirements compared to AASB 114.

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Definitions:

Goal Statement

A clear and specific declaration of the objectives an individual or organization aims to achieve.

Time Bound

Restricted or limited by a predetermined timeframe for completion.

Measurable

Pertains to something that can be quantitatively assessed or evaluated.

Ethical Decision

A choice made based on moral principles and values, often considering the impact on all stakeholders involved.