Which of the Following Are the Same Under Both GAAP

question 88

Multiple Choice

Which of the following are the same under both GAAP and IFRS?

• A)The account.
• B)Debit and credit rules.
• C)Steps in the recording process.
• D)All of these answers are correct.

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Definitions:

Productivity

The measurement of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

Smelters

Facilities where metal is extracted from its ore through a process involving heating and melting.

Bureaucracy

A formal organization in which each person has specific duties and responsibilities and is assigned to only one supervisor.

Favoritism

The practice of giving unfair preferential treatment to one person or group at the expense of others.