The organization established to try to achieve global agreement on the use of a common set of accounting principles is called:

Question

Quizplus · Accepted Answer

The International Accounting Standards Board (IASB) was established to promote consistency and convergence in accounting standards globally. The Accounting Standards Board is a separate organization that provides guidance on accounting issues in specific countries, while Generally Accepted Accounting Principles (GAAP) refer to a set of accounting principles used in the United States. IFRS is an abbreviation for International Financial Reporting Standards, which are developed and published by the IASB. Therefore, only choice C is the correct answer.

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