PRC-1 · Chapter 1 · Question 57 of 100
The universally recognized accounting standards that guide the preparation of financial statements across many countries are known as IFRS. What does IFRS stand for?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) International Financial Reporting Standards
Explanation
IFRS stands for International Financial Reporting Standards, which are issued by the International Accounting Standards Board (IASB) to ensure global comparability.
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