Which of the Following Is in Accordance with IFRS

question 61

Multiple Choice

Which of the following is in accordance with IFRS?

• A) Accrual basis accounting
• B) Cash basis accounting
• C) Both accrual basis and cash basis accounting
• D) Neither accrual basis nor cash basis accounting

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Definitions:

Textile Factories

Industrial sites where fibers are processed into various textiles or fabrics, involving processes like spinning, weaving, and dyeing.

Bobbins

Cylindrical spools or reels on which thread, yarn, or wire is wound, commonly used in the textile industry.

Social Life

Social life refers to the interactions and relationships that occur between individuals in society, including both personal and community activities.

Saloon

A type of bar popular in the United States during the 19th and early 20th centuries known for serving alcoholic beverages.