Question

Accounting standard-setters use the following process in establishing accounting standards:

a. Research, exposure draft, discussion paper, standard.
b. Discussion paper, research, exposure draft, standard.
d. Research, discussion paper, exposure draft, standard.

Answer 1

Accounting standard-setters such as International Accounting Standards Board, use the following process in establishing accounting standards:

Research-discussion paper-exposure draft- standard

As a result,option D is correct.

Step-by-step explanation:

When a new standard is envisaged,rigorous research is undertaking,followed by the call for experts to submit discussion papers from exposure draft is crafted before a standard is finalized.