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harra harra
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6 years ago
With regard to recording transactions which of the following is true pertaining to International Financial Reporting Standards (IFRS) and Accounting Standards for Private Enterprises (ASPE)?
A) IFRS requires double-entry accounting; ASPE requires cash-basis accounting.
B) IFRS requires the use of trial balances to prepare financial statements; ASPE requires that financial statements are prepared directly from the accounts.
C) ASPE requires double-entry accounting; IFRS requires cash-basis accounting.
D) IFRS and ASPE both record transactions with debit and credit entries.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
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migrodmigrod
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6 years ago
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