Which of the Following Is Not One of the Steps

question 25

Multiple Choice

Which of the following is not one of the steps to prepare IFRS statements for the first time?

• A) Determine applicable IFRS accounting policies based on standards in force on the reporting date.
• B) Recognize assets and liabilities required to be recognized under IFRS that were not recognized under previous GAAP.
• C) Derecognize assets and liabilities previously recognized that are not allowed to be recognized under IFRS.
• D) Reclassify items previously classified in a different manner from what is acceptable under IFRS.
• E) Comply with most disclosure and presentation requirements.

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Definitions:

Humanistic

Pertaining to a psychological perspective focusing on individual free will, self-fulfillment, and the concept of self-actualization.

Theoretical Approach

A method or strategy used in research and practice that is grounded in theory and guides the processes of inquiry and interpretation.

Carl Rogers

An influential American psychologist who founded client-centered therapy and emphasized the importance of self-actualization and unconditional positive regard.

Unconditional

Something given or done without requiring anything in return or without stipulations or conditions attached.