Which of the Following Statements Is FALSE

question 53

Multiple Choice

Which of the following statements is FALSE?

• A)Not-for-profit organizations may follow IFRS (Part I)or Part III of the CICA handbook.
• B)All not-for-profit organizations should apply similar accounting treatments to like transactions when the needs of the users in the private and public sector are aligned.
• C)Not-for-profit revenue recognition criteria mirror those of profit-oriented entities except for contributions.
• D)A not-for-profit organization may not disaggregate its financial statements into funds based on legal, contractual or voluntary actions of the entity.

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Definitions:

Interactive Media

Digital media that allows active participation or interaction from the user, as seen in video games, online platforms, and some educational software.

Intellectual Development

The growth and change in cognitive abilities and intellectual skills that occurs with age.

Cognitive Development

Refers to the progression and changes in cognitive abilities and processes that occur throughout a person's life, including thinking, problem-solving, and information processing.

Negative Physical Consequences

The detrimental effects on the physical body that result from certain behaviors, actions, or environmental factors.