What Organisation Is Responsible for Setting Accounting Standards in Australia

question 16

Multiple Choice

What organisation is responsible for setting accounting standards in Australia?

• A)Generally Accepted Accounting Principles (GAAP)
• B)Australian Accounting Standards Board (AASB)
• C)International Accounting Standards Boards (IASB)
• D)Financial Accounting Standards Board (FASB)

---

Definitions:

Quantifier Negation

The process of negating the quantifiers in a statement, such as changing "all" to "not all" or "some" to "none".

Existential Generalization

A logical operation that infers the existence of at least one member of a domain that satisfies a certain property from a specific case.

Existential Instantiation

A logical principle that derives the existence of a particular instance of a predicate within a domain of discourse from a general statement.

Universal Instantiation

A logical rule stating that if something is true for everything in a certain set, then it is true for any specific thing in that set.