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Which of the following is primary assimilation?
IFRS
International Financial Reporting Standards, a set of accounting standards that provide guidelines for financial reporting, aiming to make company accounts understandable and comparable across international boundaries.
GAAP
In any particular legal area, the Generally Accepted Accounting Principles are the recognized standard of guidelines for conducting financial accounting.
Probable
Probable refers to the likelihood that a future event will occur, often used in accounting to determine if a contingent event should be recorded.
Warranty Obligations
Warranty obligations are promises made by a seller to a buyer to repair, replace, or rectify defects in goods sold within a certain period after the sale.
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