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As of January 1,2011,Canadian Publicly Accountable Companies Must Follow IFRS

question 29

Multiple Choice

As of January 1,2011,Canadian publicly accountable companies must follow IFRS in their financial statements. IFRS rules are expected to be adopted in the US for fiscal years beginning ________.


Definitions:

Recession

A period of temporary economic decline during which trade and industrial activity are reduced, usually identified by a fall in GDP in two successive quarters.

Supply-Side

A macroeconomic theory arguing that economic growth is most effectively created by lowering taxes and decreasing regulation.

Economic Program

A set of coordinated policies and plans undertaken by a government or organization to achieve specific economic objectives.

New Deal

An array of initiatives, including public infrastructure projects, monetary policy changes, and regulatory measures, implemented by President Franklin D. Roosevelt in the 1930s in the United States to combat the effects of the Great Depression.

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