IASB adopted all outstanding IAS issued .4 by the IASC as its own standards at its first *.meeting (abas 1.5) False True o All the financial statements must be 21 prepared on an accrual basis False 0 TU IFRS advisory council members are .1 appointed by trustees and they advise 14 members who issues interpretations on the * application of IFRS (1.5 ) False True 0