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)

---

Definitions:

Duty-Based Approach

An ethical perspective that focuses on the duties or moral obligations individuals have to others, society, or specific principles, regardless of the consequences.

Utilitarianism

An ethical theory that evaluates actions based on their consequences, specifically aiming to maximize overall happiness and minimize suffering.

Inherent Feature(s)

Basic or essential attributes that are naturally part of something or someone, often determining its character or essence.