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:

Alan Baddeley

A British psychologist known for his work on the model of working memory, which describes how information is stored and manipulated in short-term memory.

Working Memory

A cognitive system responsible for temporarily holding and processing information relevant to cognitive tasks such as learning, reasoning, and comprehension.

Implicit Memories

Memories that influence our behaviors and experiences unconsciously, without our deliberate recall of these memories.

Motor Skills

The abilities required to control the precise movements of muscles to perform specific actions, often divided into fine (small movements) and gross (larger movements) motor skills.