Which of the Following Statements Is Not True

question 67

Multiple Choice

Which of the following statements is not true?

• A)IFRS require that estimates of residual value and the life of the asset be reviewed at least annually and revised if necessary.
• B)The FASB standards do not have a specific rule that requires residual value and asset life to be reviewed annually.
• C)IFRS do not have a specific rule that requires residual value and asset life to be reviewed annually.
• D)The FASB generally requires operating assets to be recorded at acquisition cost,less depreciation,and the assets' values are not changed to reflect their fair market values or selling prices.

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Definitions:

Significance Level

A threshold chosen by the researcher in hypothesis testing that determines the probability of rejecting the null hypothesis when it is true.

Diet

The sum of the food consumed by an individual or organism, which can be tailored for health, cultural, or weight management reasons.

Weight

A measure of the heaviness of an object; a quantitative characteristic of mass.

Wilcoxon Signed Rank Test

A nonparametric test that compares paired or matched samples to determine if their population mean ranks differ.