Since 2002,the FASB and the International Accounting Standards Board (IASB)have

question 3

Multiple Choice

Since 2002,the FASB and the International Accounting Standards Board (IASB) have been working to merge U.S.GAAP with international financial reporting standards (IFRS) .Which of the following terms is used to describe this process?

• A) merger
• B) integration
• C) convergence
• D) unification

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Definitions:

K

The symbol for Potassium, a chemical element with atomic number 19, highly reactive and essential for plant and animal life.

HAc

A shorthand notation for acetic acid, a colorless liquid organic compound with the chemical formula CH3COOH.

K

Symbol for Potassium, a soft, silvery-white metallic element essential for plant growth and human nutrition.

M

In the context of concentration, M stands for molarity, a measure of the concentration of a solute in a solution, defined as moles per liter.