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    Question

    IFRS stands for _______

    A International Financial Reporting standards Correct Answer Incorrect Answer
    B Indian Financial Rating Standards Correct Answer Incorrect Answer
    C International Financial Rating Standards Correct Answer Incorrect Answer
    D Indian Functional Reporting Standards Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The International Financial Reporting Standards, usually called the IFRS Standards, are standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB) to provide a common global language for business affairs so that company accounts are understandable and comparable across international boundaries.

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