Which of the Following Are in Accordance with IFRS

question 288

Multiple Choice

Which of the following are in accordance with IFRS?

• A) Accrual basis accounting
• B) Cash basis accounting
• C) Both accrual basis and cash basis accounting
• D) Neither accrual basis nor cash basis accounting

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Definitions:

Word-processing Software

Computer software designed to create, edit, format, and print written documents.

Total Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Fashion Retailer

A business that sells clothes, accessories, and sometimes footwear, typically specializing in current fashion trends and styles.

Outlets

Points from which goods are sold or distributed; also refers to ways in which energy or emotions can be expressed.