BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The International Accounting Standards Board (IASB) is an independent, private-sector body that develops and approves International Financial Reporting Standards (IFRSs). The IASB operates under the oversight of the IFRS Foundation .

Detailed explanation-2: -Answer and Explanation: The correct answer is D) International Financial Reporting Standards, International Accounting Standards, and any GAAP standard recognized by an organized stock exchange. The authoritative standards in accounting include the IFRS, IAS, and the GAAP recognized by the stock exchanges.

Detailed explanation-3: -The fourth and final level of the GAAP hierarchy consists of Implementation Guides published by the FASB, the official Accounting Interpretations issued by the AICPA, and the Industry Audit and Accounting Guides and Statements of Position, also from the AICPA.

Detailed explanation-4: -International Financial Reporting Standards (IFRS) are a set of accounting standards that govern how particular types of transactions and events should be reported in financial statements. They were developed and are maintained by the International Accounting Standards Board (IASB).

Detailed explanation-5: -3.1. 2.10 There are two primary authoritative sources of generally accepted accounting principles (GAAP) for local governments: GASB – Governmental Accounting Standards Board. AICPA – American Institute of Certified Public Accountants.