Which of the following is one of the benefits of the flexibility allowed by IFRS?
A)It allows information to be presented in an appropriate way for the situation.
B)It makes accounting reports more interesting to read.
C)It allows all organizations to be required to follow IFRS.
D)It allows preparers to reflect their own personal interests

Question

Quizplus · Accepted Answer

The flexibility allowed by IFRS enables information to be presented in a way that is appropriate for the situation. This means that different entities can tailor their financial reports to their specific needs and present financial information in a way that is most useful to their stakeholders. This enhances the relevance and reliability of financial information.

Which of the Following Is One of the Benefits of the Flexibility