Which of the Following Is True of Tokyo Agreement of August

question 54

Multiple Choice

Which of the following is true of Tokyo agreement of August 2007?

• A)It is a jointly announced agreement between the Accounting Standards Board of Japan (ASBJ) and Financial Accounting Standards Board (FASB).
• B)It is an agreement announced to eliminate the cross-corporate ownership of companies in Japan.
• C)It is a jointly announced agreement between Japanese Institute of Certified Public Accountants (JICPA) and Japan's Ministry of Finance (MoF).
• D)It was announced to accelerate the process of convergence between Japanese GAAP and IFRS.

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Definitions:

Cleavage

The tendency of a mineral to break along flat, smooth surfaces, which is related to the mineral’s crystal structure.

Silicate Minerals

Minerals that contain silicon and oxygen, and usually one or more additional elements, making up the largest and most important class of rock-forming minerals.

Silicon

A chemical element with the symbol Si and atomic number 14, known for its semiconductor properties and widely used in electronics and computer chips.

Oxygen Atoms

the basic unit of the element oxygen, essential for combustion, respiration, and various other chemical reactions.