In 2012 the SEC Issued an Extensive Report Regarding the Use

question 72

Multiple Choice

In 2012 the SEC issued an extensive report regarding the use of IFRS by U.S.public companies and listed which of the following as a major obstacle to adopting IASB standards?

• A)IASB standards are generally viewed as low quality.
• B)IASB is dependent on funding from the major accounting firms.
• C)Cross-border financing is decreasing in popularity.
• D)The IASB is not a governmental agency,and therefore it is not positioned to develop accounting standards.

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Definitions:

Negatively Reinforced

A process in operant conditioning where a behavior is strengthened because an unpleasant or aversive stimulus is removed or avoided.

Positively Reinforced

A behavior that increases in frequency or likelihood as a result of being followed by a rewarding stimulus, according to principles of operant conditioning.

Conditioned Avoidance Response

Behavior that is reinforced because it allows individuals to avoid situations that cause anxiety.

Unconditioned Response

A natural, unlearned reaction to an unconditioned stimulus.