In selecting an accounting policy for a transaction, which of the following is the first level within the hierarchy of guidance that should be considered?
a. The most recent pronouncements of other standard-setting bodies to the extent they do not conflict with IFRS or the IASB Framework.
b. An IASB standard or interpretation that specifically relates to the transaction.

c. The definitions, recognition criteria, and measurement concepts in the IASB Framework.
d. An IASB standard or interpretation that deals with similar and related issues.