Which of the following is not true regarding differences between IFRS and ASPE?
A)On the balance sheet similar accounts are shown but differ in order.
B)Similar expenses are reported but grouped differently.
C)While the financial statements report similar items but have different titles.
D)The financial statements report different items with different titles.

Question

Quizplus · Accepted Answer

The statement "The financial statements report different items with different titles" is not true. In fact, while there are some differences in the presentation of financial statements between IFRS and ASPE, the items reported and their titles are generally very similar.

Which of the Following Is Not True Regarding Differences Between