In 2008 the IASB Voted to Require the 500 Largest

question 21

True/False

In 2008 the IASB voted to require the 500 largest companies of each member to file their 2009 financial reports using Extensible Business Reporting Language (XBRL).

Recognize the importance of audience analysis in determining the scope and approach of a message.

Understand techniques for simplifying complex information for diverse audiences.

Identify the effectiveness of written communication for detailed, complex messages requiring planning.

Understand the role of oral communication in conveying emotional content and ensuring immediate feedback.

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Definitions:

Price-Taker Model

A market situation where individual firms are unable to influence the prices of goods or services they sell and must therefore accept the market price set by supply and demand forces.

Price-Taker Firm

A business that has no control over the market price of its products and must accept the prevailing market price.

Economic Profit

The difference between a firm's total revenue and its total costs, including both explicit and opportunity costs.