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IFRS Standards are currently set by the A)IASC B) IASB C) IFRS D) FASB. IFRS Interpretations...

IFRS Standards are currently set by the

A)IASC

B) IASB

C) IFRS

D) FASB.

IFRS Interpretations are currently issued by the

A) SIC

B) IFRIC

C) EITF.

Business   Accounting   
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Homework Answers

Answer #1

1. Answer option B - IASB

International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that is becoming the global standard for the preparation of public company financial statements.

2. Answer option B - IFRIC

The IFRS Interpretations Committee (Interpretations Committee) is the interpretative body of the International Accounting Standards Board (Board) The Interpretations Committee responds to questions about the application of the Standards and does other work at the request of the Board.

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