What Is the Appropriate Reason Why People Object to Adopting

question 6

Multiple Choice

What is the appropriate reason why people object to adopting the roadmap?

• A)FASB is applicable to broadly concerned with both public and private companies,whereas the IASB is public companies
• B)IASB provide funds to accounting authorities and depend on their decisions to create IFRS
• C)The SEC roadmap does not present,in sufficient detail,the methodology and criteria expected to be applied in assessing the adequacy of IFRS
• D)Even though the comparability of financial statements prepared under IFRS can enhanced due to consistency in most international countries,judgments that are influenced by former country standards

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Definitions:

Long-Run Economic Profit

The excess revenue over costs, including opportunity costs and explicit costs, that a firm realizes when all inputs are considered variable, typically assumed in a period where firms can enter or exit the industry.

Potential Rivals

Companies or entities not currently in the market but possess the capability to enter and compete effectively.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market.

Marginal Revenue

The increase in revenue resulting from the sale of one additional unit of a product or service.