Discuss Worldatwork T7 Exam Topic 2 Question 74

Which statement below most accurately describes a primary purpose of the Standards Advisory Council (SAC)?

AInforms International Accounting Standards Board (IASB) of implications of proposed standards

BAppoints International Accounting Standards Board (IASB) members

CApproves principles-based standards but does not issue detailed application guidelines

DHas the sole responsibility for setting standards

Suggested Answer: A

Get Premium T7 Questions as Interactive Web-Based Practice Test or PDF Real Exam Format Detailed Explanations Instant Access Get Your Practice Test

36 comments · newest first

Bernardo 11 months ago

A is spot on, they really do inform the IASB.

Jutta 11 months ago

Wait, D? That can't be right!

Sylvie 12 months ago

C makes sense, but I'm not sure about the details.

Marti 12 months ago

I think B sounds more accurate.

Samuel 1 year ago

A is definitely the right choice!

Reuben 1 year ago

I vaguely recall that they don’t actually appoint IASB members, so I’m leaning towards option A as the best choice.

Fatima 1 year ago

I’m a bit confused; I thought the SAC had more authority in setting standards, but it seems like they mainly advise.

Glenna 1 year ago

I remember practicing a question about the roles of different boards, and I feel like option A aligns with that.

Ellsworth 1 year ago

I think the SAC mainly informs the IASB about the implications of proposed standards, but I'm not entirely sure.

Jenelle 1 year ago

I'm pretty confident the answer is A. The SAC's role is to provide input to the IASB on the implications of proposed standards, not to appoint IASB members or set standards themselves.

Shad 1 year ago

I'm a little confused by this question. The options seem similar, I'll have to think it through step-by-step to determine which one is most accurate.

Johnetta 1 year ago

Based on my understanding, the key is that the SAC informs the IASB, so I'm leaning towards A as the best answer. The other options don't seem to accurately describe the SAC's primary purpose.

Myra 1 year ago

Hmm, I'm a bit unsure about this one. I'll need to re-read the question and options carefully to make sure I understand the role of the Standards Advisory Council.

Nida 1 year ago

This question seems straightforward, I think the answer is A - the Standards Advisory Council informs the IASB of the implications of proposed standards.

Daniel 1 year ago

Global authentication and LDAP domain - those sound like they could be correct, but I'm not 100% sure. I'll have to review my notes on CIFS to make sure I get this right.

Cristy 1 year ago

I'm not entirely sure, but I remember something about examining health scores. It might relate more to understanding issues rather than tracking user changes.

Ernie 1 year ago

I think the key here is to understand the proper process for starting the admin server after a domain restoration. The options mention using WLST, so that might be the way to go.

Rickie 1 year ago

Ah, I remember learning about this in class. I'm pretty confident the answer is A - setting a password in the schedule PDF options.

Charisse 1 year ago

I thought I read something about metadata being stored in ZooKeeper in another context, but I don't think that's how Hive handles it.

Jerilyn 1 year ago

I'm pretty sure the IASB is the one that actually issues the detailed accounting standards, not the SAC. So Option C can't be right either.

Teri 1 year ago

↳ replying to Jerilyn

C) Approves principles-based standards but does not issue detailed application guidelines

Cecily 1 year ago

↳ replying to Jerilyn

B) Appoints International Accounting Standards Board (IASB) members

Queen 1 year ago

↳ replying to Jerilyn

A) Informs International Accounting Standards Board (IASB) of implications of proposed standards

Herminia 1 year ago

Haha, I wish the SAC had the power to set standards! That would make my life as an accountant a lot easier. But alas, Option D is not correct.

Hannah 1 year ago

I agree with Clay. The SAC is an advisory body, not the standard-setting authority. Option A best describes their primary purpose.

Emilio 1 year ago

↳ replying to Hannah

Option A is the most accurate description of the primary purpose of the SAC.

Emilio 1 year ago

↳ replying to Hannah

Yes, the SAC is an advisory body and does not have the sole responsibility for setting standards.

Emilio 1 year ago

↳ replying to Hannah

I agree, the SAC informs the IASB of implications of proposed standards.

Clay 2 years ago

Option A seems the most accurate to me. The SAC's role is to provide input to the IASB on the implications of their proposed standards, not to appoint members or set standards themselves.

Eileen 1 year ago

↳ replying to Clay

Definitely, having that input helps the IASB make more informed decisions when developing new standards.

Cheryll 1 year ago

↳ replying to Clay

It's important for the SAC to inform the IASB about how their standards may affect different stakeholders.

Claribel 1 year ago

↳ replying to Clay

Yeah, the SAC doesn't appoint members or set standards. They just give feedback to the IASB.

Phillip 1 year ago

↳ replying to Clay

I agree, option A makes the most sense. The SAC helps the IASB understand the impact of their proposed standards.

Ben 2 years ago

I believe SAC also plays a role in approving principles-based standards without issuing detailed application guidelines.

Adell 2 years ago

I agree with Yuonne. It's important for SAC to provide feedback to IASB on how new standards may impact the industry.

Yuonne 2 years ago

I think the primary purpose of SAC is to inform IASB of implications of proposed standards.

Worldatwork T7 Exam - Topic 2 Question 74 Discussion