Which of the Following Is Not a Similarity of GAAP

question 130

Multiple Choice

Which of the following is not a similarity of GAAP and IFRS?

• A)They both generally require that an exchange take place before a transaction is recorded.
• B)They both promote information that is relevant and that faithfully represents the underlying transactions.
• C)They both include rules about recognition,classification,and measurement of transactions.
• D)They both allow fixed assets to be reported at fair values.

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Definitions:

Passive-voice Verbs

Verbs that are used to construct sentences where the subject is the recipient of the action, rather than performing the action itself.

Problem Statements

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Infinitive Phrase

A grammatical term for the basic form of a verb plus any complements and modifiers, typically beginning with "to" (e.g., to eat, to run, to be seen).

Talking Headings

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