In What Way Does the IASB Standard on Leases (IAS

question 52

Multiple Choice

In what way does the IASB standard on leases (IAS 17) differ from U.S.GAAP?

• A)It is less specific than U.S.GAAP in terms of defining what constitutes a finance lease.
• B)U.S.GAAP requires more professional judgment in accounting for leases than does IAS 17.
• C)IAS 17 is more specific than U.S.GAAP in defining an operating lease.
• D)Operating leases are capitalized under IAS 17 but are not capitalized under U.S.GAAP.

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Definitions:

Demand-Based Pricing

A pricing strategy where the price is set based on the customer's perceived value and demand for the product or service.

Strategic Communications

The practice of planning and delivering targeted messages to achieve specific organizational objectives.

Tactical Management

Short-term focused strategies and operational decisions aimed at addressing immediate challenges and exploiting short-lived opportunities.

Operational Management

The area of management concerned with designing, overseeing, and improving production and business operations in the creation of goods or services.