A Major Difference Between IFRS and GAAP Relates to the

question 20

Multiple Choice

A major difference between IFRS and GAAP relates to the

• A) Retained Earnings account.
• B) Revaluation Surplus account.
• C) Share Capital account.
• D) Share Premium account.

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Definitions:

Tripled

Increased or expanded to three times the original size or amount.

Canadian

Pertaining to Canada or its people, culture, or characteristics.

U.S. Nickel

A five-cent coin issued by the United States Mint made primarily of copper and nickel, featuring Thomas Jefferson on one side and Monticello on the other.

Canadian Cents

This term represents the fractional monetary unit of Canada, where one Canadian dollar is equivalent to one hundred Canadian cents.