Which of the Following Is Not One of the Key

question 12

Multiple Choice

Which of the following is not one of the key reasons given by the IASB for issuing 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:

Diabetes

A chronic disease characterized by elevated levels of blood glucose (sugar) resulting from defects in insulin production, insulin action, or both.

Fatty Acids

Long hydrocarbon chains that are a major component of fats, important as sources of energy and in cell membrane structure.

Skeletal Muscles

Muscles attached to bones by tendons that are responsible for voluntary movements in the body.

Ligament

Fibrous connective tissue that connects bones to other bones, providing stability and support to joints.