IFRS Uses the Idea of a Disposal Group, a Group

question 116

Multiple Choice

IFRS uses the idea of a disposal group, a group of assets and directly associated liabilities that a firm will dispose of as a group in a single transaction.The disposal group notion of IFRS envisions a larger unit than the component notion of U.S.GAAP.In the year that a firm decides to sell or otherwise dispose of a unit that qualifies as a(n) _____ it aggregates the assets and liabilities of that unit on the balance sheet into four groups: current assets, noncurrent assets, current liabilities, and noncurrent liabilities.

• A)continuing operation
• B)discontinued operation
• C)extraordinary gain or loss
• D)impaired operation
• E)paid-in-capital

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Definitions:

Autism Spectrum Disorder

A range of neurodevelopmental disorders characterized by social interaction difficulties, communication challenges, and a tendency to engage in repetitive behaviors.

Incidence

The frequency or rate at which new cases of a disease or condition appear in a specific population over a defined time period.

Augmentative Communication System

A method for enhancing the communication skills of people with autism spectrum disorder, intellectual developmental disorder, or cerebral palsy by teaching them to point to pictures, symbols, letters, or words on a communication board or computer.

Autism Spectrum Disorder

A range of neurodevelopmental conditions characterized by challenges with social interaction, communication, and restricted repetitive behaviors.