Most Companies That Follow IFRS Present Balance Sheet (Statement of Financial

question 186

Multiple Choice

Most companies that follow IFRS present balance sheet (statement of financial position) information in this order.

• A) current assets; investments; property; plant and equipment; intangible assets; current liabilities; long term liabilities; owners' equity.
• B) intangible assets; property; plant and equipment; investments; current assets; current liabilities; owners' equity; long term liabilities.
• C) current assets; noncurrent assets; current liabilities; noncurrent liabilities; equity.
• D) noncurrent assets; current assets; equity; noncurrent liabilities; current liabilities.

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Definitions:

Norms

Shared expectations and rules that guide behavior within a group or society, often unspoken and learned through social interaction.

Reactance Theory

Suggests that individuals may react against threats to their freedom of choice by doing the opposite of what they are being pushed towards, to reassert their autonomy.

Plan A

The primary strategy or course of action intended to achieve a specific goal before any alternatives are considered.

Likely

Having a high probability of occurring or being true.