Which of the Following Is Not a Responsibility of the International

question 3

Multiple Choice

Which of the following is not a responsibility of the International Accounting Standards Board (IASB) ?

• A)​To advise political bodies to enact legislation regulating international business.
• B)​To establish a single set of international financial reporting standards.
• C)​To achieve convergence of national accounting standards and IFRS.
• D)​All are objectives of the IASB.

Recognize the role of a devil's advocate in challenging proposals and strategies.

Explain the phenomena of risky shift and conservative shift in group decision-making.

Know the advantages and disadvantages of group decision making.

Understand the application and implications of using big data and analytics in organizational decision-making.

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Definitions:

Direct Labor

Costs associated with the employees who are directly involved in the production of goods or services.

Indirect Labor

Labor costs associated with support work that does not directly contribute to the production of goods or provision of services but is necessary for operations.

Direct Materials

Raw materials that can be directly traced to the production of specific goods or services.

Indirect Materials

Materials used in the production process that are not directly traceable to the finished product, such as lubricants and cleaning supplies used in machinery.