Which of the following is true?
A. transaction analysis is completely different under IFRS and GAAP
B. most transactions are recorded differently under IFRS and GAAP
C. transaction analysis is the same under IFRS and GAAP, but some transactions are recorded differently
D. all transactions are recorded the same under IFRS and GAAP
Answer: C. transaction analysis is the same under IFRS and GAAP, but some transactions are recorded differently
You might also like to view...
Lorraine Corporation's investment portfolio at the end of the year is as follows: Classification Security Cost Market Value Trading WalMart $5,0000 $8,000 Available for Sale Delta $5,000 $1,000 Trading Disney $5,000 $3,000 Available for Sale Microsoft $5,000 $11,000 At the end of the year, Lorraine's Balance Sheet will show :
A) an Unrealized Gain of $3,000 B) an Unrealized Loss of $1,000. C) an Unrealized Gain of $1,000 D) an Unrealized Loss of $2,000. E) an Unrealized Gain of $2,000.
Which of the following integrating mechanisms is most appropriate for a complex and highly differentiated organization?
A) integrating role B) direct contact C) liaison role D) hierarchy of authority