GAAP, Compared to IFRS, Tends to Be More

question 40

Multiple Choice

GAAP, compared to IFRS, tends to be more

• A)simple in accounting requirements.
• B)rules-based.
• C)principles-based.
• D)simple in disclosure requirements.

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Definitions:

Self-actualizers

Individuals who have fulfilled their potential and realized their abilities, often demonstrating high levels of creativity, morality, and problem-solving.

Maslow

A renowned American psychologist who is famous for developing the Hierarchy of Needs theory, which suggests that psychological well-being is based on meeting inherent human necessities.

Problems

Situations, tasks, or issues that require a solution or response, often presenting challenges or obstacles to overcome.

Human Nature

The fundamental dispositions and characteristics, including ways of thinking, feeling, and acting, that are commonly shared among humans.