Which of the following is not a true statement regarding the IASB?
a. The IASB has promulgated a conceptual framework.
b. The IASB is playing an important role in the drive toward harmonization.
c. Several European nations have surrendered their standard-setting powers to the IASB.
d. Members of the IASB have pledged to use their best endeavors to bring the adoption of IASB standards to their countries.
ANSWER: C
You might also like to view...
A boutique-type advertising agency:
A) offers a wide array of services B) is designed to handle smaller accounts C) serves in-house clients D) offers one or a few specialized service or works with one type of client
The Securities and Exchange Commission (SEC) is concerned with
a. Companies that issue securities to the general public. b. All companies in the US regardless of size. c. Accounting reports issued by government entities. d. All domestic and international companies that issue accounting reports.
At the end of the year, Delta, Inc. has an unadjusted debit balance in the Manufacturing Overhead account of $3,950.
Provide the year-end adjusting entry needed to adjust the account. Omit explanation.
The best feature of an organizational structure that evolves naturally is its _________
A. economy. B. clarity. C. practicality. D. use of staff positions.