Question Details

Politics and political pressure in establishing IFRS is a negative force



True or false:
1.	Politics and political pressure in establishing IFRS is a negative force.

	2.	Significant financial reporting issues facing global financial reporting and efficient capital allocation include how to provide backward-looking information.

	3.	The Norwalk Agreement formalized the FASB- and IASB- commitment to convergence of U.S. GAAP and international standards.

	*4.	Financial Accounting Concepts set forth fundamental objectives and concepts that are used in developing future standards of financial accounting and reporting.
	*5.	The AICPA- Code of Professional Conduct requires that members prepare financial statements in accordance with generally accepted accounting principles.



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