The International Accounting Standards Board (IASB)issues only one set of accounting standards which have general applicability to the private,public and not-for-profit sectors.

Question

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The IASB issues International Financial Reporting Standards (IFRS) primarily for the private sector, while public and not-for-profit sectors often follow different standards or guidelines.

The International Accounting Standards Board (IASB)issues Only One Set of Accounting