The Accounting for Each of the Following Is the Same

question 184

Multiple Choice

The accounting for each of the following is the same under IFRS and GAAP except for

• A) changes in accounting estimates.
• B) discontinued operations.
• C) changes in accounting principles.
• D) IFRS and GAAP accounting is the same for each of the items.

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Definitions:

General Course

A broad educational path focusing on a wide range of subjects or skills.

Equal Dignities Rule

A legal principle stating that agents appointed to perform tasks that must be in writing, such as real estate transactions, also must have their authority granted in writing.

Mortgage

A loan secured by the collateral of specified real estate property that the borrower is obliged to pay back with a predetermined set of payments.

Assignment

The transfer of rights, property, or responsibilities from one party to another.