Tax Global Chapter 4

IFRS standards are designed to promote:

Which of the following are the IFRS standard?

“— requires an entity that is adopting IFRS Standards for the first time to prepare a complete set of financial statements covering its first IFRS reporting period and the preceding year.

IFRS 3 establishes principle for which of the following except?

“—-establishes principles for presenting and preparing consolidated financial statements when an entity controls one or more other entities

IFRS 13 :

Which of the following is not a feature of Private limited companies?

Which of the following are the characteristic of public company?

Two main accounting standards guide accounting. The U.S. supports a standard known as Generally Accepted Accounting Principles (GAAP). The non-GAAP accounting standard is supported by the International Financial Reporting Standards organization (IFRS). Which of the following statements is most likely true?