Which of the Following Is False with Regard to Accounting

question 28

Multiple Choice

Which of the following is false with regard to accounting standards for segment reporting according to International Financial Reporting Standards (IFRS) and U.S. GAAP?

• A) IFRS and U.S. GAAP do not each require disclosure of segment liabilities.
• B) IFRS and U.S. GAAP both require disclosure of intangible assets attributable to geographic segments.
• C) According to IFRS, operating segments can be based on products and services.
• D) According to IFRS, operating segments can be based on geographic areas.
• E) IFRS and U.S. GAAP both require disclosure of total assets.

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Definitions:

Natural Mimicry

The adaptive resemblance of one species to another, which provides protection or other advantages in the natural environment.

Empathy

The capacity to comprehend and empathize with someone else's emotions by seeing things from their perspective.

Deindividuation

A psychological state where individuals lose self-awareness and feel less accountable in group settings, often leading to atypical behavior.

Personal Control

The belief in one's ability to influence events in one's life and the degree of control one has over their personal environment.