Under International Financial Reporting Standards (IFRS)

question 64

Multiple Choice

Under International Financial Reporting Standards (IFRS)

• A) The cash-basis method of accounting is accepted.
• B) Events are recorded in the period in which the event occurs.
• C) Net income will be lower under the cash-basis than accural-basis accounting.
• D) All of the choices are correct.

---

Definitions:

Arial

A typeface widely used in various documents and web design, known for its sans-serif style.

Prestige Elite

A high-quality font designed for digital typewriting, often used for its clear legibility.

Proportional Typefaces

Fonts in which the width of each character varies, as opposed to monospaced typefaces where each character occupies the same width.

Ragged Right Margins

A text layout style where lines of text are uneven on the right edge, often used for a more informal appearance.