The organization established to try to achieve global agreement on the use of a common set of accounting principles is called
A) Accounting Standards Board
B) Abbreviated as IFRS
C) International Accounting Standards Board
D) Generally accepted accounting principles
E) All of these

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) is the organization established to try to achieve global agreement on the use of a common set of accounting principles. Option A refers to the board responsible for setting accounting standards in the U.S., option B refers to the abbreviation of International Financial Reporting Standards (IFRS) which are set by the IASB, and option D refers to the set of accounting principles commonly used in the U.S.

The Organization Established to Try to Achieve Global Agreement on the Use