IFRS Have Fewer Detailed Rules Than U.S.GAAP

question 75

True/False

IFRS have fewer detailed rules than U.S.GAAP.

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Definitions:

Intangible Attributes

Characteristics of a product or service that cannot be physically touched or seen, such as the brand reputation or the level of customer service.

Nondurable Good

Products that are consumed or are only usable for a short period of time, such as food, paper products, and fuel.

CarPlay

An Apple standard that enables a car radio or head unit to be a display and a controller for an iOS device.

Car Manufacturers

Companies engaged in the design, production, marketing, and selling of motor vehicles.