Task: Instance Description Understanding (ontology: Business_Finance/Financial_Industry_Business_Ontology)

Which of the following definitions best describes the instance 'International Financial Reporting Standard'?

A. a qualifier indicating that the relationship period reflects the validity period for any regulatory filing, accounting document, other document demonstrating the relationship's validity
B. an accounting framework developed by the International Accounting Standards Board (IASB)
C. an accounting framework of unstated origin (other than IFRS or US GAAP)
D. an accounting framework developed by the US Financial Accounting Standards Board (FASB)

Answer: an accounting framework developed by the International Accounting Standards Board (IASB)