Which of the Following Is Not an Objective of IASB

question 20

Multiple Choice

Which of the following is not an objective of IASB?

• A) To develop, in the public interest, a single set of high quality, understandable and enforceable global accounting standards that require high quality, transparent and comparable information in financial statements and other financial reporting to help participants in the world's capital markets and other users make economic decisions
• B) To promote the use and rigorous application of IASB standards
• C) To take account of, as appropriate, the special needs of small and medium-sized entities and emerging economies
• D) To provide financial support to countries adopting the IASB standards

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Definitions:

Otto von Bismarck

A German statesman who served as Prime Minister of Prussia and was the first Chancellor of the German Empire, known for his role in the unification of Germany.

East Africa

A region of Africa that includes countries along the eastern coast and nearby islands, known for its diverse cultures, languages, and ecosystems.

Karl Peters

A German colonial ruler, associated with the establishment of German East Africa, and known for his aggressive and brutal methods of colonization.

Mahdists

Followers of Muhammad Ahmad bin Abd Allah, who in 1881 declared himself the Mahdi, leading a religious and political movement in Sudan against Egyptian and British rule.