What Has the Accounting Profession Adopted to Guide the Practice

Multiple Choice

What has the accounting profession adopted to guide the practice of financial accounting in order to provide external shareholders with relevant, reliable, consistent, and comparable financial information?

A) Formal Accounting Rules and Procedures (FARP)
B) Standardized Accounting Procedures (SAP)
C) International Financial Reporting Standards (IFRS)
D) International Accounting Financial Rules (IAFR)