Which of the Following Is Not a Similar Requirement of Financial

question 22

Multiple Choice

Which of the following is not a similar requirement of financial instruments under both IFRS and U.S.GAAP?

• A)Financial assets held for trading at fair value with changes in profit but not loss on the income statement
• B)Held to maturity investments at amortized cost to the income statement
• C)Available for sale investments at fair value with changes in other comprehensive income
• D)Receivables and loans at amortized cost to the income statement

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Definitions:

Raw Materials

Basic materials extracted from natural resources or produced through agriculture, which are used in the production of goods and services.

Injection

Any spending other than by households or any income other than from resource earnings; includes investment, government purchases, exports, and transfer payments.

Circular Flow

An economic model that illustrates the continuous movement of goods, services, and money between producers and consumers in an economy.

Circular Flow Model

A diagram that illustrates the movement of goods, services, and money between households and businesses in the economy.