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Worldatwork Exam T7 Topic 2 Question 86 Discussion

Actual exam question for Worldatwork's T7 exam
Question #: 86
Topic #: 2
[All T7 Questions]

Which body has the sole responsibility for setting standards?

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Suggested Answer: A

by Pura at Apr 28, 2024, 09:41 AM

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Karan
3 months ago
I'd go with B, the IASB. They're like the accounting version of the United Nations, but without all the drama and free coffee.
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Hester
3 months ago
As an accountant, I can tell you that the IASB is the one true ruler of the standard-setting universe. If you don't believe me, just ask your abacus.
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Rozella
2 months ago
The APB used to be important, but now it's all about the IASB.
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Murray
2 months ago
I think the IFRIC also has a say in setting standards.
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Casandra
2 months ago
The SAC also plays a crucial role in setting standards.
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Dierdre
2 months ago
I agree, the IASB is the one true ruler of standards.
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Lizbeth
3 months ago
Hmm, B sounds right, but I'm also kind of tempted by C. Those IFRIC folks sure do love their interpretations! Maybe they're setting some secret standards on the side.
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Marjory
3 months ago
I'm going with B, the IASB. Gotta love those international standards that keep us all on the same page, you know?
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Candra
2 months ago
The IASB plays a crucial role in ensuring uniformity in financial reporting.
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Emerson
2 months ago
Yeah, it's important to have those international standards for consistency.
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Carin
2 months ago
I agree, the IASB is definitely the one setting the standards.
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Kasandra
4 months ago
The IASB is the obvious choice here, as they are responsible for setting international accounting standards. The other options seem more like advisory or interpretative bodies.
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Berry
2 months ago
Definitely, the IASB has the sole responsibility for setting standards.
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Mendy
2 months ago
The other options seem more like advisory or interpretative bodies.
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Kyoko
2 months ago
Yes, I agree. They are responsible for setting international standards.
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Bernadine
2 months ago
I think the IASB is the best choice.
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Margret
4 months ago
I'm not sure, but I think it might be C) International Financial Reporting Interpretations Committee (IFRIC). They also play a role in interpreting and applying the standards.
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Sue
4 months ago
I agree with Anglea. The IASB is responsible for setting the standards to ensure consistency in financial reporting.
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Anglea
4 months ago
I think the answer is B) International Accounting Standards Board (IASB). They are the ones who set the standards.
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Gerardo
4 months ago
I'm not sure, but I think it might be C) International Financial Reporting Interpretations Committee (IFRIC). They also play a role in interpreting and applying the standards.
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Sang
4 months ago
I agree with Alonzo. The IASB is responsible for setting the standards to ensure consistency in financial reporting.
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Alonzo
4 months ago
I think the answer is B) International Accounting Standards Board (IASB). They are the ones who set the standards.
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