ASPE Requires Less Information on the Financial Statements of Private

question 57

Multiple Choice

ASPE requires less information on the financial statements of private companies than IFRS requires because

• A) private companies are smaller than public companies.
• B) users of private company financial statements have the ability to obtain additional information from the company if required.
• C) public companies have their information available on the internet.
• D) public companies may report in different foreign currencies.

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Definitions:

Lumbar

Referring to the lower part of the spine, specifically the five vertebrae between the rib cage and the pelvis.

Motor Cortex

The region of the cerebral cortex involved in the planning, control, and execution of voluntary movements.

Spinal Cord

The major column of nerve tissue that is connected to the brain and lies within the vertebral canal and from which the spinal nerves emerge.