The Financial Accounting Standards Board(FASB)and the International Accounting Standards Board(IASB)are
Multiple Choice
The Financial Accounting Standards Board(FASB) and the International Accounting Standards Board(IASB) are working together to develop similar standards.Which of the following statements is FALSE?
A) The FASB and IASB have recently developed a new standard that has a globally consistent and converged way to recognize revenue.
B) In the retail merchandising industry,FASB and IASB have used the same rules for revenue recognition.
C) In the retail merchandising industry,FASB and IASB have used different rules for revenue recognition.
D) FASB and IASB have developed similar standards for the past few years.
Correct Answer:
Verified
Correct Answer:
Verified
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