The Organization Established to Try to Achieve Global Agreement on the Use

question 65

Multiple Choice

The organization established to try to achieve global agreement on the use of a common set of accounting principles is called

• A) Accounting Standards Board
• B) Abbreviated as IFRS
• C) International Accounting Standards Board
• D) Generally accepted accounting principles
• E) All of these

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Definitions:

Indentured Servants

Individuals who agreed to work for a certain period in exchange for transportation to the New World, living expenses, and sometimes land at the end of their service, a common practice in the American colonies.

Pennsylvania Colony

The Pennsylvania Colony was one of the original thirteen colonies in North America, founded in 1681 by William Penn as a haven for persecuted Quakers and others seeking religious freedom.

Indian Slave Trade

The historical trade of indigenous peoples of the Americas as slaves, particularly prevalent during the colonial and early post-colonial periods in various regions.

British West Indies

A term historically used to describe the islands in the Caribbean that were part of the British Empire, including Jamaica, Barbados, and Trinidad and Tobago.