Which of the Following Alternative Accounting Methods Is(are) Allowed by ASPE

question 18

Multiple Choice

Which of the following alternative accounting methods is(are) allowed by ASPE and IFRS for reporting accounting changes?

• A) prospective and retrospective
• B) current and retrospective
• C) current and prospective
• D) retrospective only

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Definitions:

Sale and Issuance

The process of selling securities to investors and recording the transaction in the company's financial statements.

Secured Bonds

bonds that are backed by collateral, providing a guarantee of repayment to bondholders in the event of the issuer's default.

Specific Assets

Assets that are clearly identified and uniquely distinguishable from other assets in terms of type, nature, or usage.

Maturity Date

The Maturity Date is the specific date on which a financial obligation must be paid off or when an investment becomes due for repayment.