The role of the Accounting Standards Board (AcSB) in the formulation of accounting principles in Canada can be best described as:
A)primary.
B)secondary.
C)sometimes primary and sometimes secondary.
D)Non-existent.

Question

Quizplus · Accepted Answer

The Accounting Standards Board (AcSB) is the primary standard-setting body for accounting principles and standards in Canada. Its mandate is to establish and improve accounting standards that provide relevant, transparent, and comparable information to users of financial statements.

The Role of the Accounting Standards Board (AcSB) in the Formulation