Which of the Following Statements Is Not True

question 93

Multiple Choice

Which of the following statements is not true?

• A)Public corporations must use International Financial Reporting Standards.
• B)Private corporations can choose to use either International Financial Reporting Standards (IFRS)or Accounting Standards for Private Enterprises (ASPE).
• C)Both public and private corporations issue shares.
• D)All private corporations are small.

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Definitions:

Arbitration Agreement

A contract in which parties agree to resolve disputes outside of court through arbitration.

Independent Contractor

A person or organization hired to execute tasks for or deliver services to another organization without being an employee.

Mediation Agreement

A legally binding contract arising from a mediation process, where parties agree to resolve their dispute through negotiated terms.

Mediator

A neutral third party who facilitates negotiations and conflict resolution between disputing parties, aiming to help them reach an agreement.