--------------Data Are Values Based on Observations That Can Be Counted

question 66

Multiple Choice

--------------data are values based on observations that can be counted and are typically represented by whole numbers.

• A)Continuous
• B)Nominal
• C)Discrete
• D)Time series

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Definitions:

IFRS

International Financial Reporting Standards are a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide how financial transactions and other accounting events are reported in financial statements.

Accounting Treatment

The method by which financial events are recorded and presented in the accounts of a business.

Goodwill

An intangible asset that arises when a business is purchased for more than the fair value of its net identifiable assets, representing future economic benefits arising from non-physical assets.

Acquisition Fair Value

The price that would be paid to acquire an asset or the amount received to assume a liability during a business combination.