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- 1 Marks
Question
Which of the following is NOT an objective of the International Accounting Standards Board (IASB)?
A. Review of accounting standards
B. Promotion of the use of accounting standards
C. Promoting application of the accounting standards
D. Convergence of international accounting standards
E. Preparation of the financial statements in line with the requirement of IASB framework
Answer
E. Preparation of the financial statements in line with the requirement of IASB framework
Explanation:
The IASB does not prepare financial statements; instead, it focuses on setting standards, promoting their use, and converging international standards.
- Tags: Accounting Standards, Financial Reporting, IASB
- Level: Level 1
- Topic: Regulatory Environment of Accounting
- Series: MAR/JULY 2020
- Uploader: Theophilus