1. Which one of the following is NOT an objective of the first-time adoption standard?

   Answer

   		The first set of IFRS financial statements should be high quality.
   		The first set of IFRS financial statements should be transparent and comparable over all periods presented.
   		The first set of IFRS financial statements should provide a good starting point for accounting under IFRS.
   		The first set of IFRS financial statements should be generated such that the costs exceed the benefits.