Trending US GAAP Discussions

What are the differences between GAAP and IFRS?‎

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What are the differences between GAAP and IFRS?‎

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What is the importance of GAAP in Today's Era?‎

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Fernando’s Pasta purchased inventory and later wrote it down. The current net realizable value is higher than the value when written down.?‎

 Fernando’s inventory balance will most likely be:  A higher if it complies with IFRS. B higher if it complies with US GAAP. C the same under US GAAP and IFRS.‎

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What is Contra liability account?‎

1- Neither asset nor liability account . 2- An asset account . 3- A liability account .‎

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What is the number and names of accounting branches ?‎

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What is meant by average selling period of the following ؟?‎

1 - The number of days of the period divided by the turnover rate of the inventory. 2. The number of days of the period divided by the turnover of debtors. 3 - The numb‎ ... See More

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What are the items called "below the line" in GAAP?‎

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US generally accepted accounting principles are currently developed by which entity ?‎

A The Securities and Exchange Commission. B The Financial Accounting Standards Board. C The Public Company Accounting Oversight Board.‎

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What is opportunity cost? ‎

A. The forgoing of an opportunity because it is considered unimportant. B. The explicit costs of producing a good or service. C. The forgoing of the next best alternati‎ ... See More

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