A Major Way in Which IFRS Differs from GAAP That

question 15

Multiple Choice

A major way in which IFRS differs from GAAP that will affect the design of a company's general ledger and reporting system is an IFRS principle known as

• A)componentization.
• B)monetization.
• C)securitization.
• D)centralization.

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Definitions:

Router

A networking device that forwards data packets between computer networks, directing traffic on the Internet.

Transmits Data

The process of sending data from one place to another through a medium, such as over a network or the internet.

Bandwidth

The maximum rate of data transfer across a given path.

Communications Channels

The mediums through which information is transmitted from one entity to another, such as email, social media, or face-to-face conversations.