Which of the Following Bodies Was Set Up to Enhance

question 54

Multiple Choice

Which of the following bodies was set up to enhance the public accountability of the IFRS Foundation whilst not impairing the independence of the standard-setting process?

• A)the IFRS Advisory Council
• B)the IFRS Foundation Support Operations
• C)the IASB
• D)the Monitoring Board of Public and Capital Market Authorities

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Definitions:

Assets

Resources with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide future benefit.

Checkable Deposits

Bank account balances that can be accessed using checks, debit cards, or electronic transfers and are very liquid.

Required Reserve Ratio

The fraction of deposits that banks are mandated by regulation to hold in reserve and not lend out.

Excess Reserves

The banks' reserves over and above the required minimum that they choose to hold rather than loan out.