All of the following describe the International Accounting Standard Board (IASB)except for:
A)The IASB is a privately funded accounting standards-setting body based in London.
B)The mission of the IASB is to develop a single set of high-quality,understandable and enforceable global accounting standards.
C)Board members of the IASB come from diverse geographical countries that have adopted IFRS.
D)IASB members serve a five-year term subject to one reappointment.

Question

Quizplus · Accepted Answer

Board members of the IASB are indeed selected from diverse geographical backgrounds, but their selection is not limited to countries that have adopted IFRS. Their diversity aims to ensure that the IASB's standards are globally applicable and consider a wide range of financial reporting systems and practices.

All of the Following Describe the International Accounting Standard Board