All of the Following Statements Are True Except

question 133

Multiple Choice

All of the following statements are true except:

• A) IFRS requires 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 does 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:

SaaS

Software as a Service, a cloud computing model that provides access to software over the internet on a subscription basis.

Licensed Software

Software that is legally provided to a user or organization under a license agreement, specifying the terms of use and distribution.

SCM Software Purchasing

Acquiring software tools used to automate and manage supply chain activities and processes more effectively.

Supply Chain Management System

A software solution that allows businesses to manage and optimize all supply chain activities from planning and procurement to logistics and fulfillment.