The numbers in the financial statements under Accounting Standards for Private Enterprises (ASPE)_and International Financial Reporting standards (IFRS)_will usually differ,the procedures for analyzing the relationships among the reported numbers:
A) will also usually differ
B) remains unchanged
C) is significantly different
D) might be different, it depends on the ratio

Question

Quizplus · Accepted Answer

The procedures for analyzing the relationships among the reported numbers remain unchanged between ASPE and IFRS. This is because the analysis techniques, such as ratio analysis, focus on the relationships between numbers rather than the absolute numbers themselves. These relationships are consistent across different accounting standards.

The Numbers in the Financial Statements Under Accounting Standards for Private