What Is the Main Objective of the IASB

question 12

Multiple Choice

What is the main objective of the IASB?

• A) To develop,in the public interest,a single set of high quality,understandable and enforceable global accounting standards that require high quality,transparent and comparable information in financial statements and other financial reporting to help participants in the world's capital markets and other users make economic decisions.
• B) To promote the use and rigorous application of those standards.
• C) To bring about convergence of national accounting standards and International Accounting Standards and International Financial Reporting Standards to high quality solutions.
• D) All of these.

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Definitions:

Inductance

The property of an electrical conductor by which a change in current flowing through it induces an electromotive force in both that conductor and any nearby conductors.

Parallel

A type of electrical circuit connection wherein components are connected across the same voltage, leading each path to carry a part of the total current.

Inductive Reactance

The opposition offered by an inductor to alternating current, depending on the frequency of the current and the inductance of the coil.

Inductive Reactance

The opposition to the change of electric current in an inductor, measured in ohms.