Which of the Following Is True

question 228

Multiple Choice

Which of the following is true?

• A) Equity is defined under GAAP as the residual interest in the liabilities of the company.
• B) IFRS companies have agreed to adopt the Sarbanes-Oxley Act related to internal control in 2015.
• C) Transaction analysis is basically the same under GAAP and IFRS.
• D) Financial frauds have not occurred in U.S. companies because GAAP has detailed accounting and disclosure requirements.

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Definitions:

Detached Personality

Behaviors and attitudes associated with the neurotic trend of moving away from people, such as an intense need for privacy.

Striving For Superiority

The urge toward perfection or completion that motivates each of us.

Organismic Valuing Process

The process by which we judge experiences in terms of their value for fostering or hindering our actualization and growth.

Masculine Protest

A concept from Adlerian psychology referring to an individual's attempt to compensate for feelings of inferiority by adopting exaggerated traditionally masculine behaviors.