Which of the Following Statements Is NOT True of the IASB

question 19

Multiple Choice

Which of the following statements is NOT true of the IASB?

• A) The IASB's purpose is to create a single set of high quality,understandable,and enforceable global accounting standards.
• B) The publication of a Standard,Exposure Draft,or final SIC Interpretation requires approval by nine of the Board Members.
• C) The IASB is a set of international accounting standards that require transparent and comparable information in general purpose financial statements.
• D) The IASB represents accounting and financial organizations from more than 100 countries
• E) The IASB is independent and privately funded.

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Definitions:

Organic Product

A compound containing carbon atoms that has been produced through a chemical reaction involving organic molecules.

Organic Product

A compound or material derived from living organisms, often used in the context of products produced without synthetic chemicals.

Major Organic Product

The primary product formed in higher yield during an organic chemical reaction.

Organic Product

A chemical compound of organic nature, typically produced as a result of organic reactions.