Which of the following is a pronouncement originally issued by the IASC and is not a pronouncement originally issued by the IASB?
A. Business Combinations.
B. First-Time Adoption of IFRS.
C. Operating Segments.
D. Financial Instruments: Disclosures.
E. Interim Financial Reporting.
Answer: E
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A service mark is used to distinguish the product of the holder from those of its competitors.
Answer the following statement true (T) or false (F)
As the firm increases its use of equity instead of debt financing, the cost of equity rises.
Answer the following statement true (T) or false (F)
Allowing a supervisor to occasionally ignore a variance if it is in the best interests of the company is an example of a control that is
A. concurrent. B. flexible. C. economical. D. even.
In 1980, Artima Corporation purchased an office building for $400,000 for use in its business. The building is sold during the current year for $550,000. Total depreciation allowed for the building was $390,000; straight-line would have been $360,000. As result of the sale, how much Sec. 1231 gain will Artima Corporation report?
A) $150,000 B) $398,000 C) $510,000 D) $540,000