Which of the following is a CORRECT statement about U.S. GAAP and IFRS?
A) IFRS prefers valuing assets at historical cost while U.S. GAAP prefers using fair value.
B) IFRS is more "rules-based" than U.S. GAAP.
C) The FASB and the IASB are working towards convergence of standards.
D) In the area of convergence of standards, there are far more areas of disagreement than common ground.
C
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An odd-lot trade involves a trade
A) of only 100 shares. B) that is generally priced at a discount to the market price. C) of 100,000 shares or more. D) consisting of any number of shares that is not a multiple of 100.
Which process was not a suggested method for team building?
A) Conduct sessions to analyze group processes that need improvement. B) Ask members to elect an informal leader to represent the team. C) Keep members informed about the group's achievements. D) Use symbols and slogans to create a unique identity for the team.