Which Use the Term Impairment to Indicate That a Receivable

question 170

Multiple Choice

Which use the term impairment to indicate that a receivable may not be collected?

• A) Neither IFRS nor GAAP.
• B) Both IFRS and GAAP.
• C) IFRS but not GAAP.
• D) GAAP but not IFRS.

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Definitions:

Customer Database

A collection of information about customers, including contact details, purchase history, and preferences, used by businesses to tailor marketing efforts and improve service.

Online Retailer

A business that sells products or services to customers through the internet, without a physical storefront.

Amazon.com

A global online retail platform and technology company that offers a wide range of products and services, including e-commerce, cloud computing, and artificial intelligence.

Customer Data

consists of information about customers that companies collect, analyze, and use to understand preferences, behaviors, and demographics.