Which of the following is a true statement about the terms used on the balance sheet?
a. U.S. GAAP requires a standard set of terms on the balance sheet.
b. IFRS requires a standard set of terms on the balance sheet.
c. Terminology is consistent across all countries.
d. Neither IFRS nor U.S. GAAP requires a standard set of terms on the balance sheet.
d
You might also like to view...
What are the major assumptions of CVP analysis?
To prevent pressures on the financial resources created by growth, the venture should avoid resource slack.
Answer the following statement true (T) or false (F)
Fresh Fruit Company has assets of less than $10 million and fewer than fifty shareholders. Gourmand Pastries, Inc, has assets of more than $50 mil¬lion and more than five hundred shareholders. The Securities Exchange Act of 1934 applies to
a. Fresh Fruit and Gourmand Pastries. b. Fresh Fruit only. c. Gourmand Pastries only. d. neither Fresh Fruit nor Gourmand Pastries.
Entrepreneurial firms that pursue a low-cost leadership strategy use all the following to achieve lower costs except
A. cost-saving technology. B. simple organizational structures. C. extensive investment in order to achieve economies of scale. D. rapid decision making.