Which of the following is NOT true regarding the International Accounting Standa
ID: 2502937 • Letter: W
Question
Which of the following is NOT true regarding the International Accounting Standards Board (IASB)?
a. IASB standards are gaining increasing acceptance throughout the world. b. The purpose of the IASB is to harmonize conflicting accounting standards of various countries. c. The accounting standards produced by the IASB are referred to as International Financial Reporting Standards (IFRSs) (Note: the 200 country reference was not cited in the text). d. The IASB standards are accepted in the United States.Explanation / Answer
The IASB standards are accepted in the United States is not TRUE
GAAP are accepted in US
Thus. Option D) ---[Answer]