What Is the Objective of Financial Reporting,as Stated in the IASB

question 12

Multiple Choice

What is the objective of financial reporting,as stated in the IASB Framework for the Preparation and Presentation of Financial Reports,and consistent with the Australian SAC 2: Objectives of Financial Reporting?

• A) Stewardship
• B) Accountability
• C) Decision usefulness
• D) All of the given options are correct.

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Definitions:

Herzberg's Theory

A motivation theory, also known as the Two-Factor Theory, suggesting that certain factors in the workplace lead to job satisfaction, while others lead to dissatisfaction.

Job Dissatisfaction

The feeling of unhappiness or discontent with one's job, often due to factors like poor working conditions, unsatisfactory pay, or lack of recognition.

Manifest Needs

Learned or acquired needs that are easily perceived.

High Achievers

Individuals who exhibit a consistent and exceptional level of success in their endeavors, often driven by personal standards of excellence.