Which decision has Canada made with respect to financial reporting for private enterprises?
A) To adopt the IFRS standards for small and medium-sized enterprises.
B) To retain the current standards.
C) To look to US GAAP for standards.
D) To develop and maintain its own standards for private enterprises.

Question

Quizplus · Accepted Answer

Canada has chosen to develop and maintain its own standards for private enterprises, rather than adopting IFRS for small and medium-sized enterprises, retaining the current standards without change, or looking to US GAAP for standards.

Which Decision Has Canada Made with Respect to Financial Reporting