"Condorsement":
A)Is a term used by the IASB to refer to the conditional endorsement process used by the EU with respect to IFRS.
B)Describes a combination of convergence and endorsement that the SEC suggested the United States might use in the future to incorporate IFRS into U.S.GAAP.
C)Was coined by a representative of the AICPA to describe the lengthy convergence process.
D)Has nothing to do with the convergence process.

Question

Quizplus · Accepted Answer

"Condorsement" was coined by the SEC to describe a possible future scenario of combining convergence and endorsement to incorporate IFRS into U.S. GAAP.