Which of the following events took place in December 2008?
A) The IASB issued an Exposure Draft proposing amendments to IAS 18.
B) The FASB formally adopted IAS 18.
C) The IASB and FASB jointly issued a Discussion Paper on revenue recognition.
D) The IASB issued an amended IAS 18.

Question

Quizplus · Accepted Answer

The joint discussion paper on revenue recognition was issued by both the IASB and FASB in December 2008. Options A and D relate to changes to IAS 18 which were issued by the IASB but there is no evidence to suggest this happened in December 2008. Option B is also incorrect as the FASB did not formally adopt IAS 18 in December 2008.

Which of the Following Events Took Place in December 2008