What Group Is Primarily Responsible for the Creation of International

question 25

Multiple Choice

What group is primarily responsible for the creation of International Financial Reporting Standards (IFRS) ?

• A) Financial Accounting Standards Board (FASB)
• B) International Forum on Accountancy Development (IFAD)
• C) International Federation of Accountants (IFA)
• D) International Accounting Standards Board (IASB)

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Definitions:

Cumulative Abnormal Returns

The aggregate difference in an asset’s observed versus expected returns over a specific timeframe, often used to assess impact of an event.

Takeover Announcement

A public declaration that a company intends to acquire another company, often triggering changes in the stock prices of both companies involved.

Strong-form Efficient

A theory suggesting that all information, public and private, is fully reflected in stock prices, and that it is impossible to consistently achieve higher returns.

Semistrong-form Efficient

Refers to a market efficiency form where prices include all publicly available information, including both historical and newly released financial data.