GAAP Compared to IFRS Tends to Be More

question 102

Multiple Choice

GAAP compared to IFRS tends to be more

• A) simple in accounting requirements.
• B) rules-based.
• C) principles-based.
• D) simple in disclosures requirements.

---

Definitions:

Least Squares Regression

A statistical method used to fit a regression line through a set of points in such a way that minimizes the sum of the squares of the vertical distances of the points from the line.

Coefficient Of Determination

A statistical measure represented by \(R^2\) that indicates the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

Coefficient Of Correlation

A statistical measure that calculates the strength and direction of the linear relationship between two variables on a scatter plot.

Wet Mount

A technique for preparing specimens on a microscope slide using a drop of liquid to keep the sample alive or to enhance optical properties.