Which of the Following Statements Is False

question 170

Multiple Choice

Which of the following statements is false?

• A) Under GAAP, the statement of financial position is usually referred to as the statement of assets and equity.
• B) The FASB and IASB are working on a joint conceptual framework project.
• C) Under IFRS, companies sometimes net liabilities against assets to report "net assets".
• D) Assets equals liabilities plus stockholders' equity.

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Definitions:

Financial Ratio

A quantitative measure derived from a company's financial statements used to gauge its performance, financial health, and conditions.

Progress Control

A management technique that involves the monitoring and evaluating of the progress of a project or plan to ensure it meets its objectives within the designated time frame.

SWOT Analysis

A strategic planning technique used to identify a company's internal Strengths and Weaknesses, as well as its external Opportunities and Threats.

Staircase Analysis

A step-by-step approach to dissect and understand the progression or development of an event, process, or data set.