In which accounting standard did the FASB and the IASB jointly propose new standards designed to improve the comparability of disclosures in financial statements?
A) In devaluing financial assets
B) In revenue recognition
C) In valuing assets
D) In expected loss modeling
E) In fair value discloser
Answer: E
Explanation: E) The FASB and IASB jointly propose new standards for improving the comparability of fair value disclosures in financial statements. Unlike dissimilar disclosure practices among many local GAAP, both groups want the reported fair value for an asset, a liability, and an item in shareholders' equity to have the same meaning under both FASB and
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