Under IFRS, All Gains on Non-Monetary Exchanges Are Recognized, Regardless

question 38

True/False

Under IFRS, all gains on non-monetary exchanges are recognized, regardless of whether the transaction has commercial substance or not.

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Definitions:

Tube-shaped

Describing an object or structure that is long, hollow, and cylindrical.

Water Vascular System

A unique hydraulic system used by echinoderms, such as starfish, for locomotion, food and water transportation, and respiration.

Exoskeleton

A rigid external covering for the body in some invertebrate animals, especially arthropods, providing both support and protection.

Bony Tissue

Hard tissue that makes up the skeletal bones in vertebrates, providing support, protection, and enabling mobility.