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7. Which of the following is NOT true about the IASB Framework? a. It is...

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Accounting

7. Which of the following is NOT true about the IASB Framework?

a. It is similar to the FASB Conceptual Framework

b. it exists to assist in the development of future accounting standards

c. it contains two chapters about objectives and characteristics that were jointly agreed upon by FASB and IASB

d. IT does not define the elements of financial statements

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