One of the Differences Between IFRS and ASPE Is That

question 71

Multiple Choice

One of the differences between IFRS and ASPE is that:

• A)ASPE is used mostly in Europe.
• B)IFRS uses accrual accounting; ASPE uses cash-basis accounting.
• C)IFRS uses cash-basis accounting; ASPE uses accrual accounting.
• D)to record amortization, IFRS uses the word depreciation; ASPE allows both depreciation and amortization to be used.

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Definitions:

Disease

A condition that negatively affects the structure or function of part or all of an organism, not directly resulting from physical injury.

Combat Wounds

Injuries received by soldiers or military personnel during combat operations, which can range from minor injuries to life-threatening conditions.

Teller Amendment

A resolution passed in 1898 that promised the United States would not annex Cuba following the Spanish-American War and would recognize Cuban independence.

Annex Cuba

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