Which of the Following Is a Major Restructuring Objective of the IASB

question 37

Multiple Choice

Which of the following is a major restructuring objective of the IASB?

• A) To ensure compliance to a single set of accounting standards.
• B) To progressively phase out divergent accounting practices.
• C) To promote a greater understanding of the accounting practices of different nations.
• D) To cooperate with various national accounting standard-setters in order to achieve convergence in accounting standards around the world.

---

Definitions:

Organizations

Groups of people who come together to achieve common goals, following a structured system and processes to ensure coordinated efforts.

Service Triads

A supply chain model where three parties are involved in the service delivery process, creating a triangular relationship.

Contracts

Legally binding agreements between two or more parties that specify the terms and conditions of their relationship and transactions.

Service Delivery

The manner in which a company provides a service to customers, including the process of ensuring customer satisfaction.