Which of the Following Private Companies Is Required to Use

question 3

Multiple Choice

Which of the following private companies is required to use IFRS?

• A)Investment company
• B)Import/export company
• C)Manufacturing company
• D)Accounting firm

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Definitions:

Partial Payment

Partial payment is a payment that is made towards a debt or invoice that is less than the full amount due at the time of payment.

On Credit

Purchasing goods or services with the agreement to pay for them at a later date.

Assets

Resources owned by a business or individual that have economic value and can be converted into cash.