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Worldatwork Exam T7 Topic 2 Question 110 Discussion

Actual exam question for Worldatwork's T7 exam
Question #: 110
Topic #: 2
[All T7 Questions]

Which statement below most accurately describes a primary purpose of the International Accounting Standards Committee (IASC) Foundation?

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Suggested Answer: C

by Dion at Apr 06, 2025, 08:32 PM

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Kiley
21 hours ago
I agree with Aileen, A) makes the most sense because it ensures consistency in accounting standards
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Brice
5 days ago
A) Approves principles-based standards and informs International Accounting Standards Board (IASB) of implications of proposed standards - Hold up, isn't that the IASB's job? I'm not buying it.
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Alida
9 days ago
C) Monitors International Accounting Standards Board (IASB)'s effectiveness, raise funds, approve budget, responsible for constitution - That's the one! Gotta keep those accountants in check, am I right?
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Aileen
13 days ago
I think the primary purpose is A) Approves principles-based standards and informs IASB
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