Which of the Following Is False

question 319

Multiple Choice

Which of the following is false?

• A) Under IFRS, a company records a revaluation surplus when it experiences an increase in the price of its ordinary shares.
• B) Under GAAP, the income statement is presented in a one-or two-statement format.
• C) Under IFRS, companies cannot record gains on transactions involving their own shares.
• D) Under GAAP, companies cannot record gains on transactions involving their own shares.

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Definitions:

Ecological Modernization

An approach that suggests industrialized societies can continue to develop economically while reducing their impact on the environment.

Bioprospecting

The process of discovery and commercialization of new products based on biological resources, often in the field of medicine.

Sustainable Development

is the development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Our Common Future

A report published by the World Commission on Environment and Development (WCED) in 1987, also known as the Brundtland Report, focusing on sustainable development.