Which of the Following Is False

question 227

Multiple Choice

Which of the following is false?

• A) IFRS has lower standards than GAAP that address revenue recognition.
• B) Under IFRS, firms do not engage in the closing process.
• C) Under IFRS, the term expense includes losses.
• D) Under IFRS, the term income describes both revenues and gains.

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Definitions:

Speculators

Investors who attempt to profit from market volatility by buying and selling stocks or other financial instruments, often taking higher risks.

Hedgers

Individuals or entities that enter financial contracts to reduce exposure to risk, typically by locking in prices for commodities or currencies.

Positions

Refers to the holdings or inventory of investments or trading assets owned by institutions or individuals.

Open Interest

The total number of outstanding derivative contracts, such as options or futures, that have not been settled.