Which of the Following Is True About Measurement of Liabilities

question 96

Multiple Choice

Which of the following is true about measurement of liabilities?

• A)ASPE only allows the use of effective-interest method.
• B)ASPE only allows the use of only straight-line method.
• C)IFRS only allows the use of only effective-interest method
• D)IFRS only allows the use of only straight-line method.

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Definitions:

Excise Tax

A specific tax levied on particular goods or services at the point of manufacture or sale, often included in the price of the product.

Supply Curve

A graphical representation of the relationship between the price of a good or service and the quantity of it that producers are willing to supply.

Excise Tax

A tax levied on specific goods, services, or transactions, often included in the price of the product.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that suppliers are willing to produce and sell, holding other factors constant.