The Accounting for Each of the Following Is the Same

question 118

Multiple Choice

The accounting for each of the following is the same under IFRS and GAAP except for

• A)extraordinary items.
• B)discontinued operations.
• C)changes in accounting principles.
• D)changes in accounting estimates.

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Definitions:

Analyzing Cases

This involves the examination of legal cases to understand their implications, including dissecting the arguments, judgments and rationales used by the courts.

Majority Opinion

The judicial opinion agreed to by more than half of the members of a court, setting out the decision of the court.

Dissenting Opinions

Written opinions by judges who disagree with the majority decision in a court case.

Concurring Opinions

Judicial opinions that agree with the overall conclusion of the majority in a court ruling but may differ on reasoning or legal principles.