Which of the Following Most Accurately Describes the Process of Issuing

question 36

Multiple Choice

Which of the following most accurately describes the process of issuing an IASB standard?

• A) An advisory committee may be established to give advice on the project; this may be followed by the development and publication of Discussion Documents. After receiving public feedback, an Exposure Draft may then be issued for further comment. A final IFRS is then issued based on previous feedback along with Basis for Conclusion.
• B) Discussion Documents are developed and published for public comment, then an advisory committee must be established to give advice on the project. After receiving public feedback, an Exposure Draft may then be issued for further comment. A final IFRS is then issued based on previous feedback along with Basis for Conclusion.
• C) An advisory committee may be established to give advice on the project and develop an Exposure Draft, which will be followed by the development and publication of Discussion Documents. After receiving public feedback, a final IFRS is then issued along with Basis for Conclusion.
• D) An advisory committee must be established to give advice on the project; this will be followed by the development and publication of Discussion Documents. After receiving public feedback, an Exposure Draft is required to be issued for further comment. A final IFRS is then issued based on previous feedback along with Basis for Conclusion.

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Definitions:

Summons

An official notice or order issued by a court requiring a person to appear in court in connection to a legal proceeding.

Accident Reconstruction

The process of investigating, analyzing, and drawing conclusions about the causes and events during a vehicle collision.

Specialist

An individual with a high degree of skill, knowledge, or expertise in a particular field or profession.

Testify

To make a statement based on personal knowledge or belief, under oath in court.