Which of the Following Is Not True About IFRS

question 5

Multiple Choice

Which of the following is not true about IFRS?

• A) The IASB does not have the ability to enforce proper usage of IFRS.
• B) IFRS is available to any organization or nation that wishes to use those standards.
• C) IFRS is a comprehensive set of financial reporting standards.
• D) IFRS includes only pronouncements issued by the IASB.
• E) IFRS are considered as generally accepted accounting principles.

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Definitions:

Poll Taxes

Poll Taxes are taxes levied as a fixed sum on every liable individual, historically used as a means of disenfranchising voters, particularly African Americans in the United States.

Enfranchised African Americans

African Americans who were granted the right to vote, especially referring to the period following the Civil War.

Political Power

The ability or capacity of a person or group to influence the actions, beliefs, or conduct of others within a political framework.

President Chester A. Arthur

The 21st President of the United States, serving from 1881 to 1885, known for his efforts in civil service reform and the Pendleton Civil Service Reform Act.