Which of the following is NOT true of the due process followed by the IASB in formulating International Financial Reporting Standards?
A) A period of public comment is provided after discussion papers are prepared.
B) Standards are approved by a unanimous vote of the 16-member board.
C) Exposure drafts are published prior to taking a vote of the board.
D) National accounting standards and practices are studied before preparing exposure drafts.
Correct Answer:
Verified
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