Which Organization Would Have the Ultimate Responsibility of Deciding If

question 29

Multiple Choice

Which organization would have the ultimate responsibility of deciding if the advantages outweigh the disadvantages in the adoption of IFRS accounting standards in the U.S.?

• A) FASB
• B) SEC
• C) IASB
• D) AICPA

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Definitions:

Ethology

The scientific study of animal behavior, often with a focus on behaviors that are instinctive or genetically programmed.

Natural Habitat

The original environment in which a plant, animal, or organism lives and grows best, without human intervention.

Instinct Concept

The inherent inclination of a living organism towards a particular complex behavior.

Motivated Behavior

Actions that are driven by internal needs or desires, often aimed at achieving a specific goal or fulfilling a need.