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

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

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