Which of the Following Statements Concerning Financial Statement Presentation Is

question 128

Multiple Choice

Which of the following statements concerning financial statement presentation is false?

• A)Goodwill is reported separately from intangible assets.
• B)Companies must disclose their policy for testing impairments in the notes to their statements.
• C)Companies reporting under ASPE must include a reconciliation of the changes during the year in the carrying amount for each class of long-lived asset in the notes to their statements.
• D)Companies reporting under IFRS must disclose whether they are using the cost or revaluation model for each class of long-lived asset in the notes to their statements.

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