Both US GAAP and IFRS Require That an Entity Disclose Its

question 50

True/False

Both U.S. GAAP and IFRS require that an entity disclose its policy regarding cash equivalents.

---

Definitions:

Hyperpolarization

An increase in a cell's membrane potential, making it more negative and less likely to fire an action potential.

Voltage-Gated

Pertaining to ion channels that open or close in response to changes in membrane potential, crucial for nerve impulse conduction.

Na+

Na+ represents Sodium ions, which are essential electrolytes in the body that help maintain blood pressure, fluid balance, and are critical for the functioning of muscles and nerves.

Extracellular

Pertaining to being outside the cell membrane.