Which of the Following Is a Correct Statement with Regard

question 7

Multiple Choice

Which of the following is a correct statement with regard to differences between IFRS and U.S. GAAP?

• A) Reporting a bank overdraft that is an integral part of a cash management policy is a recognition difference.
• B) Reporting LIFO inventory is a presentation difference.
• C) Reporting past service cost for defined benefit pension plans is a measurement difference.
• D) Reporting convertible debt is a recognition difference.
• E) Reporting development costs is a classification difference.

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Definitions:

Negatively Punished

A term in behavioral psychology referring to the decrease in the frequency of a behavior due to the removal of a pleasant stimulus following the behavior.

Positive Reinforcer

A stimulus which, when presented after a behavior, increases the likelihood that the behavior will occur again.

Negative Reinforcer

A stimulus whose removal following a behavior increases the likelihood that the behavior will occur again in the future.

Primary Reinforcers

Innate reinforcing qualities, such as food and water, that fulfill basic biological needs and do not require learning to be effective.