Which financial reporting approach has Canada decided to take with respect to private enterprises?
A)IFRS
B)Special adaptation of IFRS for small and medium enterprises
C)Canadian GAAP for private enterprises
D)Disclosed basis of accounting

Question

Quizplus · Accepted Answer

Canada has adopted Canadian GAAP for private enterprises as its financial reporting approach for private enterprises, offering a simplified set of accounting standards compared to IFRS.

Which Financial Reporting Approach Has Canada Decided to Take with Respect