Why does German accounting practice differ from IFRS?
A. German accounting rules are much more specific in most areas than IFRS.
B. German accounting law is less specific in some respects than IFRS.
C. Germany has not adopted a policy on accounting standard harmonization.
D. Germany is not interested in foreign direct investment.
Ans: B. German accounting law is less specific in some respects than IFRS.
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A) occurs when you stop frequently during the drafting process to evaluate what you have written before finishing your thoughts B) is never a problem if you use the ACE process C) is often the result of procrastination or impatience D) is best dealt with by ignoring the editor in your brain while you write E) can be overcome by writing the hardest parts of your message first
The cost principle relates most closely to the
a. recognition point. b. recognition issue. c. valuation issue. d. classification issue.