U.S.GAAP Differs from IFRS in That U.S.GAAP ________

question 154

Multiple Choice

U.S.GAAP differs from IFRS in that U.S.GAAP ________.

• A)allow long-term assets to be adjusted up to fair market values
• B)require both probable and reasonably possible contingent liabilities to be recorded
• C)allow FIFO
• D)do not allow internally generated intangible assets to be recorded

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Definitions:

Psychoanalysis

A therapeutic approach and theory of personality developed by Sigmund Freud, focusing on unconscious motivations and conflicts underlying human behavior.

Wundt

Often referred to as the father of experimental psychology, Wilhelm Wundt established the first psychology laboratory at the University of Leipzig, Germany.

Freud

Sigmund Freud, originating from Austria and specializing in neurology, pioneered psychoanalysis, which is a therapeutic procedure for mental health issues conducted through dialogue between psychoanalysts and their patients.

B.F. Skinner

A prominent American psychologist known for his work in behaviorism and for developing the theory of operant conditioning.