What Are the Three Authoritative Pronouncements That Make Up the International

question 7

Essay

What are the three authoritative pronouncements that make up the International Financial Reporting Standards (IFRS)?

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Definitions:

P-values

The probability of observing a statistic as extreme as, or more extreme than, the statistic observed under the assumption that the null hypothesis is true.

Two-sided

Pertaining to hypothesis tests that consider deviations in both directions away from a specified null hypothesis.

One-sided

A term used in hypothesis testing to describe a test where the alternative hypothesis specifies a direction of the difference or effect.

Alternative Hypothesis

A hypothesis that suggests there is a statistically significant effect or difference between two or more variables or groups.