ASPE and IFRS Differ in Their Treatment of Long-Term Bonds

Multiple Choice

ASPE and IFRS differ in their treatment of long-term Bonds Payable in that:

A) The straight-line method may be used under ASPE but not under IFRS.
B) ASPE ignores foreign exchanges gains and losses.
C) IFRS does not account for foreign exchange gains and losses on Bonds Payable.
D) Under IFRS, exchange gains and losses on short-term debt are recorded in the income statement immediately.