Which of the Following Is Not a Short-Term Convergence Topic

question 58

Multiple Choice

Which of the following is not a short-term convergence topic that the IASB must address in order to eliminate the reconciliation of accounts prepared under different sets of standards of different countries?

• A) Segment reporting
• B) Accounting for income taxes
• C) Accounting for impairments of assets
• D) Accounting for research and development costs

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Definitions:

Golden Rule

A moral principle that suggests treating others as one would like to be treated.

Interact

To engage or communicate directly with someone or something, often leading to a reciprocal response or action.

Minimum Standards

Regulations or guidelines that establish the lowest acceptable limits or requirements for a specific action, performance, product or outcome.

Stakeholders

Individuals or groups that have an interest, concern, or stake in a project, company, or decision, affecting or being affected by the outcome.