Which is the correct historical order for the development of these accounting standards?
A) AAS series, AASB series, SACs
B) AASB series, AAS series, SACs
C) SACs, AASB series, AAS series
D) AAS series, SACs, AASB series

Question

Quizplus · Accepted Answer

The correct historical order starts with the AAS (Australian Accounting Standards) series, followed by the SACs (Statements of Accounting Concepts), and then the AASB (Australian Accounting Standards Board) series. The AAS series laid the foundational accounting standards, SACs provided the conceptual framework for these standards, and the AASB series represents the current set of standards that have been updated and expanded upon from the original AAS.

Which Is the Correct Historical Order for the Development of These