Multiple Choice
Which statement regarding commitments and contingencies is false?
A) U.S.GAAP record commitments since they have a legal basis
B) Under IFRS,the purchase agreements are recognized when an entity has a demonstrable commitment for a future payment or transfer of assets
C) Under U.S.GAAP,contingent assets and liabilities are recognized if they are probable and can be estimated.
D) Under IFRS,there must be a present obligation that arises from past events and fair value must be determinable
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Which following statement regarding investment property is
Q2: Which of the following statements regarding consolidation
Q3: Which are two major differences between U.S.GAAP
Q4: Significant differences can occur in required funding
Q5: How do IFRS and U.S.GAAP deal with
Q7: What is the major difference between how
Q8: Which of the following statement is correct
Q9: Which differences between U.S.GAAP and IFRS exists
Q10: The required current amount of the pension
Q11: Which of the following comparison statements is