Question Details

Interpretations issued by IFRIC are more authoritative than IASB Standards and Interpretations



True or false:
1.	A unanimous vote by all Board members is needed to issue a new International Financial Reporting Standard (IFRS).

	2.	The International Accounting Standards Board (IASB) has 14 members and each member of the IASB must come from a different country.

	3.	Interpretations issued by IFRIC are more authoritative than IASB Standards and Interpretations.

	4.	The International Accounting Standards Board (IASB) is a regulatory agency with enforcement powers for its International Financial Reporting Standards (IFRS).

	5.	International financial reporting interpretations (issued by the International Accounting Standards Board) are considered authoritative and must be followed.



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