It Is Usually Considered That IFRS Standards Are More Principles-Based

question 27

True/False

It is usually considered that IFRS standards are more principles-based and US standards are more rule-based.

---

Definitions:

Mortgage Loan

is a type of loan used to purchase or maintain a home, land, or other types of real estate where the borrower agrees to pay back the lender over a period of time, typically through monthly payments.

Market Value

The current price at which an asset or service can be bought or sold in a fair and open market.

Right To Foreclose

The legal right of a lender or mortgage holder to seize property in the event of nonpayment of debt.

Mortgage Loan

A loan secured by the collateral of some specified real estate property, which the borrower is obliged to pay back with a predetermined set of payments.