IFRS, Compared to GAAP, Tends to Be More

question 45

Multiple Choice

IFRS, compared to GAAP, tends to be more

• A)detailed.
• B)rules-based.
• C)principles-based.
• D)full of disclosures requirements.
• IFRS

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Definitions:

General Adaptation Syndrome

A three-phase process (alarm, resistance, and exhaustion) that describes the body's response to stress.

Hans Selye

A pioneering Hungarian-Canadian endocrinologist who is considered the father of the concept of stress and its effects on the body.

Cognitive Task

A task or activity that requires the use of mental processes such as perception, memory, reasoning, and problem-solving.

Jump to Conclusions

A cognitive bias that describes the action of arriving at a decision or opinion with little to no evidence or reasoning process.