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In adopting International Financial Reporting Standards (IFRSs), the Australian Accounting Standards Board (AASB) has: a. used the IFRSs only as a foundation for its own

In adopting International Financial Reporting Standards (IFRSs), the Australian Accounting Standards Board (AASB) has:

a. used the IFRSs only as a foundation for its own set of standards and has identified where these own standards do not comply with IFRSs.

b. embraced the IFRSs without change.

c. issued its own standards and re-badged' them as AASBs.

d. been disbanded as it is no longer required.

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