All Revenue and Expense Items Are Considered Ordinary in Nature

question 179

Multiple Choice

All revenue and expense items are considered ordinary in nature under

• A) both IFRS and GAAP.
• B) GAAP.
• C) IFRS.
• D) neither IFRS or GAAP.

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Definitions:

Organizational Culture

The shared values, beliefs, norms, and practices that shape the social and psychological environment of a business organization.

Friendly Behavior

Actions that are kind, pleasant, and supportive towards others.

Managerial Actions

Decisions or behaviors taken by managers in the course of leading and managing an organization or team.

Culture Modification

The process of altering an organization's or society's cultural elements, including norms, values, and practices.