What Is the Fundamental Difference Between IFRS and GAAP

question 68

Multiple Choice

What is the fundamental difference between IFRS and GAAP?

• A) GAAP relies more on general principles but ignores the spirit of those principles.
• B) GAAP relies more on specific rules and the spirit of the rules.
• C) GAAP relies more on specific rules but not the spirit of the rules.
• D) GAAP relies more on general principles as well as the spirit of those rules.

Demonstrate an understanding of the correct use of apostrophes in plural forms.

Recognize correct spelling in the context of a sentence.

Distinguish between correct and incorrect spellings of commonly mistaken plurals.

Apply rules of noun pluralization correctly in writing.

---

Definitions:

Frustration of Nonreward

The feeling of tension, dissatisfaction, or disappointment that arises when an anticipated reward or outcome does not materialize.

Motivation Generated

The process through which inner or external factors stimulate desire and energy in people to be continually interested and committed to a job, role, or subject.

Incentive Motivation

A theory in psychology that argues behavior is directed toward attaining desirable stimuli and avoiding unwanted stimuli.

Latent Learning

The subconscious retention of information without reinforcement or immediate application, which becomes apparent when a situation calls for it.