In Order to Increase Comparability, in Recent Years, the FASB

question 223

Multiple Choice

In order to increase comparability, in recent years, the FASB and IASB have made efforts to reduce the differences between U.S.GAAP and IFRS through a process known as

• A) convergence
• B) monetary unit assumption
• C) the cost principle
• D) the fair value principle

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Definitions:

Poly-A Tail

A stretch of adenine nucleotides added to the 3' end of mRNA molecules, protecting the mRNA and aiding in its export from the nucleus.

Transcriptional

Pertaining to transcription, the process by which genetic information from DNA is copied to RNA, leading to protein synthesis.

Posttranscriptional

Pertaining to modifications and processes that occur in a eukaryotic cell after transcription of DNA into RNA, affecting mRNA stability, translation, and other aspects.

Pretranscriptional

Pertaining to the biological regulatory processes that occur before the transcription of DNA to RNA.