Which of the Following Is Generally True About the Differences

question 7

Multiple Choice

Which of the following is generally true about the differences between U.S.GAAP and IASB standards?

• A)U)S.GAAP is generally more flexible than IASB standards.
• B)U)S.GAAP tends to be more rule-based and the IASB standards tend to be principles-based.
• C)More professional judgment is required to apply U.S.GAAP than is required for implementing IASB standards.
• D)In all cases,U.S.GAAP is more detailed than the IASB standards.

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Definitions:

Associate's Degree

An undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting two years.

Professional Paralegal Behavior

Refers to the ethical and professional conduct expected of paralegals, including competency, confidentiality, and integrity in legal practice.

Objectivity

The principle of being unbiased and impartial, making decisions and performing assessments based on observable phenomena and uninfluenced by emotions or personal prejudices.

Courtesy

The showing of politeness in one's attitude and behavior toward others.