The Primary Principle Addressed by Recent Changes to ASPE and IFRS

question 102

Multiple Choice

The primary principle addressed by recent changes to ASPE and IFRS on accounting changes and error corrections is the:

• A)Comparability principle.
• B)Matching principle.
• C)Full-disclosure principle.
• D)Going-concern principle.

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Definitions:

Legal Rules

Principles or guidelines established by authority, society, or custom, which are enforceable through legal institutions.

Foreign

Related to or originating from a country different from the one being referred to, often implies external or outside influence or components.

Alien Corporations

Companies that are incorporated in one country but do business in another.

Professional Corporation Acts

Specific laws enacted to regulate the formation and operation of corporations providing professional services, like legal or medical practices.