Which of the following statements about the IASB and FASB conceptual frameworks is not correct?

Question

(a) The IASB conceptual framework does not identify the element comprehensive income.

(b) The existing IASB and FASB conceptual frameworks are organized in similar ways.

(c) The FASB and IASB agree that the objective of financial reporting is to provide useful information

to investors and creditors.

(d) IFRS does not allow use of fair value as a measurement basis.

Shahbaz Hayder · Answer

Option d is the right answer.

Hossam Mohamed · Answer

the correct option is d) IFRS does not allow use of fair value as a measurement basis.

Sohail Lone · Answer

D.Correct answer.IFRS allows use of fair value as measurement basis,IFRS13 Fair value measurement