Answer to Question #193857 in Law for sanito

Question

• Which of the following statements is not true for Accounting Standards and statements?
•  A. The objective of creating accounting standards for any particular issue, is to limit the variety of available accounting practices, but without striving for strict uniformity or creating a set of rigid rules for all circumstances.
•  B. The International Financial Reporting Standards (IFRS) and the International Accounting Standards (IAS) are issued by the South African Institute of Chartered Accountants (SAICA).
•  C. The International Financial Reporting Standards (IFRS) and the International Accounting Standards (IAS) are prepared by the International Accounting Standards Board.
•  D. In America, the Financial Reporting Standards Council (FRSC) plays an important role in the development of IFRS.

Answer 1

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