When the Words "Separate Procedure" Appear After the Descriptor of a Code

question 1

Multiple Choice

When the words "separate procedure" appear after the descriptor of a code, you know which of the following about that code?

• A)The procedure was the only service provided earlier on that day.
• B)The procedure provided was on a day other than the major procedure.
• C)The procedure was a minor procedure that would only be reported if it was the only service provided.
• D)The procedure is always bundled into any other service provided.

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Definitions:

ASPE

Accounting Standards for Private Enterprises; a set of accounting guidelines for private companies in Canada.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide how financial events are reported in financial statements globally.

Financial Statement Presentation

The structured representation of the financial information, typically including the balance sheet, income statement, and cash flow statement, of an entity.

Return on Assets

This measures how efficiently a company's management is using its total assets to generate profits.