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Answer the following questions: 1- what are the major types of pronouncements issued by IASB? (3 points) 2- What is the definition of fair value?

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Answer the following questions: 1- what are the major types of pronouncements issued by IASB? (3 points) 2- What is the definition of fair value? (1 point) 3- What are the financial statements most frequently provided? (2 points) 4- What is the objective of financial reporting? (2 points) 5- Under what conditions should an item be recognized in the financial statements? (2 points)

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