Which of the following is a general purpose financial reporting framework?
A)Generally accepted auditing standards.
B)Auditing Standards of the Public Company Accounting Oversight Board.
C)International Standards of Auditing.
D)International Financial Reporting Standards.

Question

Quizplus · Accepted Answer

International Financial Reporting Standards (IFRS) is a global standard for financial reporting, used by companies in over 100 countries. It sets out the principles and framework for financial reporting, including presentation and disclosure requirements. While the other options (A, B, and C) are related to auditing standards, IFRS is a financial reporting framework.

Which of the Following Is a General Purpose Financial Reporting