ZuoTi.Pro
Question

Which of the following lists different accounting standards? Group of answer choices a)GAAP/IFRS b)AIA/EIA c)Centralized/coordinated d)NYSE/DAX...

Which of the following lists different accounting standards?

Group of answer choices

a)GAAP/IFRS

b)AIA/EIA

c)Centralized/coordinated

d)NYSE/DAX

e)Managerial/financial

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

The following lists different accounting standards:

a)GAAP/IFRS

GAAP (US Generally Accepted Accounting Principles) is the accounting standard used in the US, while IFRS (International Financial Reporting Standards) is the accounting standard used in over 110 countries around the world.

0 0
Add a comment
Know the answer?
Add Answer to:
Which of the following lists different accounting standards? Group of answer choices a)GAAP/IFRS b)AIA/EIA c)Centralized/coordinated d)NYSE/DAX...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Which of the following is a benefit of the convergence between US GAAP and IFRS? Group...

    Which of the following is a benefit of the convergence between US GAAP and IFRS? Group of answer choices B. All companies now have a choice between different sets of financial reporting standards C. The IASB and FASB use the exact same conceptual framework to generate accounting standards D. All companies will produce financial statements in English A. Increased comparability between financial statements produced in different countries As a result of the convergence efforts since 2007: Group of answer choices...

  • Which of the following is true with regard to pension accounting under GAAP and IFRS? Group...

    Which of the following is true with regard to pension accounting under GAAP and IFRS? Group of answer choices The accounting for defined-benefit pension plans is the same under GAAP and IFRS. Accounting for defined-benefit pensions is typically a less important issue in the U. S. than in other parts of the world. Prior service cost is recognized on the balance sheet under both GAAP and IFRS. Prior service cost is amortized into income over the expected service lives of...

  • 1) IFRS standards:    A. Are established by the Financial Accounting Standard Board (FASB)     B....

    1) IFRS standards:    A. Are established by the Financial Accounting Standard Board (FASB)     B. Are established by the International Accounting Standard Board (IASB)     D. Are established by the Securities and Exchange Commission (SEC)     C. Are enforced by the International Accounting Standard Board (IASB) 2) What are the main reasons why US GAAP and IFRS differ?    D. Cultural differences have no effect on developing multiple different standards in the world including IFRS and US GAAP    ...

  • 1. Which of the following is a reason why lease accounting under U.S. GAAP and IFRS...

    1. Which of the following is a reason why lease accounting under U.S. GAAP and IFRS were revised? It was too easy for firms to circumvent lease capitalization criteria. To enhance comparability for analyzing different companies’ financial statements. Operating leases were a popular means of off-balance sheet financing. All of these answer choices are correct. 2. A temporary difference that causes book income to be greater than or less than taxable income when it is initially recorded is a/an: Multiple...

  • Which statement is correct as it relates to diverse accounting practices across countries? A. U.S. GAAP...

    Which statement is correct as it relates to diverse accounting practices across countries? A. U.S. GAAP is acceptable worldwide wherever IFRS has not been adopted. B. Translating financial statements of various currencies into one common currency for consolidation purposes does not resolve the problem of diversity of accounting practices across countries. C. To have stock listed on a U.S. stock exchange, all financial statements submitted to the SEC must be prepared either using U.S. GAAP or using IFRS. D. Stock...

  • Which of the following can be components of a coordinated school health program? a, Group of...

    Which of the following can be components of a coordinated school health program? a, Group of answer choices b. Partnering with non-profit organizations c. Health education d. School counseling creating silos among units

  • Which of the following statements related to internally developed assets IS correct? Group of answer choices...

    Which of the following statements related to internally developed assets IS correct? Group of answer choices A) IFRS generally require that expenditures on research be capitalized as an intangible asset rather than expensed B) IFRS do not allow companies to recognize an intangible asset arising from development C) Generally, US GAAP require that both research and development costs be expensed as incurred except for certain costs related to software development

  • 1. The management process is defined by a. Planning b. Controlling c. Decision making d. All...

    1. The management process is defined by a. Planning b. Controlling c. Decision making d. All of the above e. None of the above 2. The organization that controls the certification of management accountants is the a. FASB b. SEC c. IMA d. AICPA e. None of the above 3. One of the differences between managerial and financial accounting is a. Financial accounting is oriented towards internal users b. Managerial accounting has to follow GAAS c. Managerial accounting is oriented...

  • Which of the following is not a normative ethical principle? Group of answer choices a. personal...

    Which of the following is not a normative ethical principle? Group of answer choices a. personal benefit b. paternalism c. B and C, but not A d. all of the above are normative principles e autonomy 2.The Ethics of Security, Engagement, and Imagination are components of whose Ethical schema? Group of answer choices a. Kohlberg b. All of the above c. Narvaez d. Svara e. Kant 3.The deontological approach to Ethics is exemplified in which of the following: Group of...

  • "Development" costs refer to costs firms incur in developing new products, process and services. They are...

    "Development" costs refer to costs firms incur in developing new products, process and services. They are part of "Research and Development' costs. Which of the following statements is true with respect to accounting for development costs: Group of answer choices D. US GAAP and IFRS have the same requirements for development costs. B. IFRS requires development costs to be expensed as incurred unless addressed by guidance in another IASB Topic. A. US GAAP requires development costs to be expensed as...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT