One Form of the IF Field Is Called an If…Then…Else

question 61

True/False

One form of the IF field is called an If…Then…Else: If a condition is true,then perform an action;else perform a different action.

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Definitions:

IASB

The International Accounting Standards Board, an organization that establishes accounting standards known as International Financial Reporting Standards (IFRS) that guide the preparation and reporting of financial statements globally.

Financial Information

Data about a company's past, present, and future financial health and performance.

Financial Statements

Reports that provide a summary of a company's financial performance and position, including balance sheet, income statement, and cash flow statement.

Proprietorship

Proprietorship, also known as a sole proprietorship, is a business owned and operated by one individual, where there is no legal distinction between the owner and the business entity.