ASPE and IFRS Differ in Their Treatment of Long-Term Bonds

question 48

Multiple Choice

ASPE and IFRS differ in their treatment of long-term Bonds Payable in that:

• A)The straight-line method may be used under ASPE but not under IFRS.
• B)ASPE ignores foreign exchanges gains and losses.
• C)IFRS does not account for foreign exchange gains and losses on Bonds Payable.
• D)Under IFRS, exchange gains and losses on short-term debt are recorded in the income statement immediately.

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Definitions:

Cook-Medley Hostility Scale

A psychological instrument used to measure levels of hostility and anger thought to be predictive of cardiovascular disease.

Coronary Lesions

Damage or disease affecting the coronary arteries, which can lead to reduced blood flow to the heart muscle and contribute to conditions like angina and myocardial infarction.

Dean Ornish

An American physician and researcher known for his advocacy of lifestyle changes to improve heart health and prevent disease.

Modifiable Risk Factor

A behavioral or environmental characteristic that increases the risk of disease and can be changed to improve health outcomes.