The Objectives of Both IFRS and US GAAP Objectives Are

question 135

Multiple Choice

The objectives of both IFRS and US GAAP objectives are to provide information that is:

• A)historical and conservative.
• B)relevant and faithfully represented.
• C)consistent and conservative.
• D)reliable and historically based.

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Definitions:

Investment Builder

A financial tool or account that aids individuals in growing their savings through various types of investments.

Term Deposit

A fixed-term investment held at a financial institution that pays interest until a specified maturity date.

Simple Interest Rates

The rate at which interest is calculated solely on the initial amount of capital, without compounding.

Principal Investment

The original amount of money invested or loaned, on which basis interest and returns are calculated.