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:

Psychology

The scientific study of the mind and behavior, encompassing various aspects of conscious and unconscious experience as well as thought.

Swiss Biologist

A scientist from Switzerland specializing in the study of living organisms and their interactions with each other and their environments.

Jean Piaget

A Swiss psychologist renowned for his work in child development and his theory of cognitive development that explains how children construct a mental model of the world.

Reproductive Advantages

Biological or behavioral traits that increase the likelihood of an organism's genes being passed on to subsequent generations.