USGAAP and IFRS Allows the Use of Present Value to Calculate

question 13

Multiple Choice

U.S.GAAP and IFRS allows the use of present value to calculate the cost of an asset except:

• A) When assets are held for more than one year.
• B) When assets are held for less than one year.
• C) When assets are depreciated using the straight line method
• D) When asset are sold in the middle of the accounting cycle.

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Definitions:

Pituitary

A small, pea-sized gland located at the base of the brain that produces hormones influencing various bodily functions, including growth and reproduction.

Adrenals

Glands located above the kidneys that produce hormones such as adrenaline and cortisol, which regulate stress response and other vital functions.

Hypothalamus

A region of the brain responsible for producing hormones that regulate body temperature, hunger, moods, and the release of hormones from other glands.

Cerebellum

A region of the brain that plays an important role in motor control, and it may also be involved in some cognitive functions such as attention and language as well as in regulating fear and pleasure responses.