IFRS Compared to GAAP Tends to Be More

question 29

Multiple Choice

IFRS compared to GAAP tends to be more

• A) detailed.
• B) rules-based.
• C) principles-based.
• D) full of disclosures requirements.

---

Definitions:

Total Benefits

The complete range of advantages or improvements gained from a product or service, often assessed in economic terms.

Total Costs

Total Costs refer to the complete sum of all expenses incurred by a company in producing and selling goods or services, including both fixed and variable costs.

Limited

Refers to a finite amount or scope, often used in the context of resources, capabilities, or availability.

Bundled Choices

A rephrased definition would be: Marketing strategy where products or services are sold together as a single package, often at a discount, to encourage sales.