Which of the Following Are the Same Under Both GAAP

question 100

Multiple Choice

Which of the following are the same under both GAAP and IFRS?

• A) The journal.
• B) The ledger.
• C) The chart of accounts.
• D) All of these answer choices are correct.

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Definitions:

T-bond Futures

Futures contracts that obligate the buyer to purchase U.S. Treasury bonds at a specified price at a future date, used for hedging and investing purposes.

Issuing Bonds

The process by which corporations or governments raise capital by selling debt securities, promising to repay the principal amount with interest at a later date.

Interest Rate

The amount charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal, typically noted on an annual basis.

Futures Contracts

Agreements to buy or sell an asset at a predetermined future date and price.