IFRS Is the Main U

question 47

True/False

IFRS is the main U.S. accounting rule book and is currently created and governed by the FASB.

---

Definitions:

Own Ethics

Personal or individual moral principles that govern one's behavior and decision-making.

Kohlberg's Moral Development

A theory that proposes six stages of moral development through which individuals progress as they grow older and gain maturity.

Goal Statement

A clear and specific declaration of the objectives an individual or organization aims to achieve.

Time Bound

Restricted or limited by a predetermined timeframe for completion.