Canada, our neighbor to the north, and Mexico, our neighbor to the south, have already adopted IFRS respectively in the following years

a. 2011 and 2012

b. 2015 and 2016

c 2005 and 2006

d. none of the above

OSCO aims to ensure better regulation of international markets. The U.S. member is

a.Deloitte

b.FASB

c.SEC

d.AICPA

IFRS for SMEs is a simplified version of IFRS and intended to be used by

a.publicly accountable companies

b.governmental entities

c.companies in emerging markets

d.smaller, private companies without public accountability

An issue that was addressed as part of the "convergence efforts" between the IASB and FASB was

a.intangible assets

b.property, plant, and equipment

c.revenue recognition

d.none of the above