Which of the Following Is True with Regard to the Characteristics

question 20

Multiple Choice

Which of the following is true with regard to the characteristics of the International Accounting Standards Board (IASB) ?

• A) A unanimous vote by all Board members is needed to issue a new International Financial Reporting Standard (IFRS).
• B) The IASB consists of 13 part-time members.
• C) Each member of the IASB must come from a different country.
• D) IASB members are appointed for 5-year renewable terms.

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Definitions:

Leftover Income

The amount of money an individual or household has after all expenses and taxes have been paid; also known as disposable income.

Bundle

A collection or group of goods or services that are considered together as a single combined unit.

Monthly Income

The total amount of income received on a monthly basis from all sources.

Price

The financial sum expected, necessary, or handed over in exchange for something.