Question Details

International Financial Reporting Standards preceded International Accounting Standards



True or false:
1.	International Financial Reporting Standards preceded International Accounting Standards.

	2.	The standard-setting structure used by the International Accounting Standards Board is very similar to that used by the Financial Accounting Standards Board.

	3.	The rules-based standards of IASB are more detailed than the simpler, principles-based standards of U.S. GAAP.

	4.	The International Accounting Standards Board issues International Financial Reporting Standards.

	5.	International Accounting Standards are no longer considered applicable because they have been replaced by International Financial Reporting Standards.



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