Which Two Organizations Are Working Together to Harmonize Financial Reporting

question 67

Multiple Choice

Which two organizations are working together to harmonize financial reporting worldwide?

• A) FASB and IASB
• B) GAAP and FASB
• C) SEC and FASB
• D) EU and SEC

---

Definitions:

Difference Threshold

The minimum difference in stimulation needed to detect a change or difference between two stimuli.

Just-noticeable Difference

The smallest change in intensity of a stimulus that can be detected.

Absolute Threshold

The minimum intensity of a stimulus at which it can be detected by an individual at least 50% of the time.

Difference Threshold

The minimum difference in stimulation that a person can detect 50% of the time, also known as just noticeable difference (JND).