Which of the Following Is the Best Example of a Political

question 4

Multiple Choice

Which of the following is the best example of a political supranational organization?

• A)European Union
• B)ASEAN
• C)NAFTA
• D)United Nations
• E)OPEC

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Definitions:

Percentage-Of-Completion Method

is an accounting technique used to recognize revenue and expenses of long-term contracts proportionally as the work is completed.

Revenue Recognition

The accounting principle that dictates the conditions under which revenue is recognized and how to measure the amount to be recorded.

Percentage-Of-Completion Method

An accounting method that recognizes revenues and expenses of long-term projects proportionately with the degree of completion.

IFRS

International Financial Reporting Standards; a set of accounting standards developed by the International Accounting Standards Board (IASB) that is used globally to prepare public company financial statements.