Exam $1($Chapter $1-5)$

$44$

Which of the following is a true statement in regards to the International Accounting Standards Board?

Multiple Choice

$01$:$27$:$47$

The IASB was created by the American Accounting Association

The IASB has the authority to audit financial statements of all US corporations

The IASB deals with issues caused by the lack of uniform accounting principles existing in different countries

The IASB develops all accounting principles to be used in the United States

Mc

Hraw

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