The Term International Financial Reporting Standard (IFRS) Refers To

question 55

Multiple Choice

The term International Financial Reporting Standard (IFRS) refers to:

• A)the new numbered series of pronouncements that the IASB is issuing.
• B)the entire body of IASB pronouncements, including International Accounting Standards issued between 1973 and 2001.
• C)both a and b.
• D)none of the above.

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Definitions:

Logistical Arrangements

The planning and coordination of the detailed organization and implementation of a complex operation, often involving the movement of people or goods.

Ground Rules

Basic guidelines or agreed-upon principles that govern the conduct of an activity or process.

Decision Standards

The benchmarks or criteria used to evaluate the options in a decision-making process, which can include aspects such as cost, efficiency, ethical considerations, or impact on stakeholders.

Increased Number

A situation where the quantity or volume of something grows or expands.