What Group Is Primarily Responsible for the Creation of International

question 25

Multiple Choice

What group is primarily responsible for the creation of International Financial Reporting Standards (IFRS) ?

• A) Financial Accounting Standards Board (FASB)
• B) International Forum on Accountancy Development (IFAD)
• C) International Federation of Accountants (IFA)
• D) International Accounting Standards Board (IASB)

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Definitions:

Individualism

An outlook within society that upholds the importance of individual autonomy against the backdrop of communal or state intervention.

Collectivism

A social and cultural orientation that emphasizes the priority of group needs over individual desires or goals.

Extraversion

A personality trait characterized by outgoingness, high energy, and enjoyment in social interactions, often contrasted with introversion.

Collective Unconscious

A concept in psychology, particularly within Jungian theory, referring to a part of the unconscious mind that is shared among beings of the same species, containing universal experiences.