What is the full form of IASB?

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Prepare for the Fundamentals of Accountancy, Business, and Management (FABM) 1 Exam. Study efficiently with multiple choice questions and detailed explanations. Enhance your knowledge and succeed in your exam with confidence.

Multiple Choice

What is the full form of IASB?

Explanation:
The main concept is knowing the full form of IASB. It stands for International Accounting Standards Board, the main body that sets accounting standards used in many countries through IFRS. It operates under the IFRS Foundation and took over from the International Accounting Standards Committee in 2001 to develop and promote International Financial Reporting Standards. The other options don’t match the official name or scope—an auditing standards board exists under a different organization, and the remaining names are not the recognized title of the IASB.

The main concept is knowing the full form of IASB. It stands for International Accounting Standards Board, the main body that sets accounting standards used in many countries through IFRS. It operates under the IFRS Foundation and took over from the International Accounting Standards Committee in 2001 to develop and promote International Financial Reporting Standards. The other options don’t match the official name or scope—an auditing standards board exists under a different organization, and the remaining names are not the recognized title of the IASB.

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