IFRS Compared to GAAP Tends to Be More

question 20

Multiple Choice

IFRS compared to GAAP tends to be more

• A) detailed.
• B) rules-based.
• C) principles-based.
• D) full of disclosure requirements.

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Definitions:

Dialect

A particular form of a language which is peculiar to a specific region or social group.

Fashion

Fashion signifies the styles and practices, particularly in clothing, footwear, accessories, makeup, or body posture, that are popular in a culture at any given time.

Group Changes

The transformation or modification that occurs within a group over time, affecting its structure, goals, or dynamics.

Fundamentally New

Describes concepts, ideas, or objects that represent a significant departure from previous developments or understandings.