Which of the Following Is NOT an Advantage to IFRS

question 2

Multiple Choice

Which of the following is NOT an advantage to IFRS adoption?

• A) It is a cost effective way to have a comprehensive set of standards
• B) It makes financial statements more comparable
• C) It makes accounting standard development more flexible
• D) None of the above, i.e. they are all advantages

---

Definitions:

Monopoly

A monopoly is a market structure where a single firm has exclusive control over the market supply of a product or service, often leading to higher prices for consumers.

Megawatts

A unit of power equal to one million watts, often used to describe the output capacity of power plants or the amount of electricity required by large entities.

Rent-Seeking Behavior

Actions by individuals or companies to increase their own wealth without creating new wealth or value, often through manipulating the environment in which economic activities occur.

Health Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured or reimburses them for expenses incurred from illness or injury.