Which of the following statements is correct?
A)IFRS issued by the IASB currently consist of eleven standards issued since the formation of the IASB in 2001.
B)IAS issued by the IASC from its beginning in 1971 that have not been superseded by the IFRS.Currently of the original forty-one IAS,ten are still in effect.
C)Financial statements can be described as complying with IFRS as long as they comply with two out of the whole requirements of IFRS.
D)Interpretations originated by the IFRIC or its predecessor,the SIC.Currently,sixteen IFRIC and eleven SIC are still in effect.

Question

Quizplus · Accepted Answer

The Answer of Which of the following statements is correct?
A)IFRS issued by the IASB currently consist of eleven standards issued since the formation of the IASB in 2001.
B)IAS issued by the IASC from its beginning in 1971 that have not been superseded by the IFRS.Currently of the original forty-one IAS,ten are still in effect.
C)Financial statements can be described as complying with IFRS as long as they comply with two out of the whole requirements of IFRS.
D)Interpretations originated by the IFRIC or its predecessor,the SIC.Currently,sixteen IFRIC and eleven SIC are still in effect.

Which of the Following Statements Is Correct