US SFAS 131

question 1

Multiple Choice

US SFAS 131

• A) is very similar to the IAS 14
• B) was created ten years before the IAS 14
• C) concerns mergers and acquisitions
• D) does not require sales information by segments

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Definitions:

Practical and Realistic

Having an approach or mindset focused on dealing with things sensibly and realistically, based on practical rather than theoretical considerations.

Idealistic and Grand

Pertaining to having high ideals or grand ambitions, often characterized by optimism and a desire for significant achievements.

Realistic and Unexciting

Describing something that is practical and possible to achieve but lacks excitement or appeal.

Practical and Logical

Relating to a manner of thinking and problem solving that is based on realistic and rational considerations, often focusing on achieving effective results.