Which of the Following Is Not One of the Key

question 29

Multiple Choice

Which of the following is not one of the key reasons given by the IASB for a standard on fair value measurement?

• A) to establish a single source of guidance for all fair value measurements required or permitted by IFRSs to reduce complexity and improve consistency in their application;
• B) to clarify the definition of fair value and related guidance in order to communicate the measurement objective more clearly;
• C) to require the use of fair value when accounting for all non-financial assets;
• D) to enhance disclosures about fair value to enable users of financial statements to assess the extent to which fair value is used and to inform them about the inputs used to derive those fair values.

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Definitions:

Occupational Safety

The practice of ensuring that work environments are safe and free from hazards that could harm workers.

Health Act

Legislation aimed at ensuring the provision of healthcare services and the maintenance of public health standards, may refer to specific national laws or regulations.

Reverse Discrimination

Discrimination against members of a dominant or majority group, often as an attempt to correct historical discrimination against minority or disadvantaged groups.

Affirmative Action

Measures or policies designed to increase opportunities for minorities and women, particularly in employment and education, to counteract historical discrimination.