Examlex
Which of the following statements is false?
IFRS
International Financial Reporting Standards, a set of accounting principles that establish how transactions and other accounting events should be reported in financial statements on a global scale.
Fair Value
The estimated price at which an asset could be bought or sold in a current transaction between willing parties.
GAAP
Generally Accepted Accounting Principles, a set of rules and standards for financial reporting used in the United States.
Assets Reporting
The process of documenting and disclosing the value and details of a company’s assets in financial statements.
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