Going Forward, There Will Be Two Sets of Accounting Standards

question 23

True/False

Going forward, there will be two sets of accounting standards for Canadian for profit companies.

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Definitions:

Telemetry

The collection and wireless transmission of data from remote or inaccessible sources to an IT system for monitoring and analysis.

Mobile Computing

A real‑time connection between a mobile device and other computing environments, such as the Internet or an intranet.

Google Wallet

A digital payment service developed by Google that allows users to store and use various forms of payment.

Tencent

A major Chinese technology and entertainment conglomerate known for its social messaging app WeChat and its vast portfolio of video games and online services.