Which Statement Is Correct

question 46

Multiple Choice

Which statement is correct?

• A)Private enterprises must follow IFRS.
• B)Publicly accountable enterprises must follow IFRS.
• C)Not-for-profit organizations must follow ASPE.
• D)Private enterprises must follow ASPE.

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Definitions:

Injunctive Norm

Social norms that are perceived as what is approved or disapproved of by others, guiding behavior by the expectations of others.

Humiliation

The feeling of shame, embarrassment, or loss of dignity caused by an act that lowers one's status in the eyes of others.

Culture of Honor

A social norm that emphasizes honor, reputation, and the readiness to defend honor with violence if necessary, often observed in certain societies or communities.

Deindividuation

A psychological state where an individual loses self-awareness and personal responsibility in group settings, often leading to atypical behavior.