Qualitative Data Vary by ______; Quantitative Data Vary by ______

question 69

Multiple Choice

Qualitative data vary by ______; quantitative data vary by ______.

• A) level; value
• B) value; level
• C) amount; class
• D) class; amount

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Definitions:

IFRS

International Financial Reporting Standards, which are international accounting guidelines for preparing financial statements.

Lessee

A person or entity that leases an asset from another, acquiring the right to use the asset for a specified period in exchange for periodic payments.

Revenue Recognition

The accounting principle that determines the specific conditions under which revenue is recognized or accounted for.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.