What Is the Name of the Parent Organization to the International

question 69

Multiple Choice

What is the name of the parent organization to the International Accounting Standards Board?

• A) IASB (International Accounting Standards Board)
• B) IFRS (International Financial Reporting Standards)
• C) FASB (Financial Accounting Standards Board)
• D) IFRIC (International Financial Reporting Standards Interpretations Committee)

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Definitions:

Respondeat Superior

A legal doctrine holding employers liable for the actions of their employees performed within the course of their employment.

Liability

Being under a legal obligation, especially concerning financial debts or fulfilling certain duties.

Torts

Legal wrongs committed against a person or property, excluding breaches of contract and crimes, that lead to civil legal liability.

Partnership Agreement

A legal document that outlines the rights, responsibilities, and profit-sharing mechanisms among business partners.