Which of the Following Is Not True About IFRS

question 5

Multiple Choice

Which of the following is not true about IFRS?

• A) The IASB does not have the ability to enforce proper usage of IFRS.
• B) IFRS is available to any organization or nation that wishes to use those standards.
• C) IFRS is a comprehensive set of financial reporting standards.
• D) IFRS includes only pronouncements issued by the IASB.
• E) IFRS are considered as generally accepted accounting principles.

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Definitions:

Negative Reinforcement

A process in behavioral psychology where the removal of an undesirable stimulus strengthens a behavior.

Partial Reinforcement

A conditioning schedule in which a reward is not given every time the desired response is made, enhancing resistance to extinction of the behavior.

Successive Approximations

A process in behaviorism where behaviors are broken down into small, achievable steps towards a final goal, often used in learning and conditioning.

Delayed Reinforcement

The presentation of a reward following a behavior after a significant period of time, which can impact the effectiveness of the reinforcement.