Which of the following sources of generally accepted accounting principles (GAAP) are NOT developed by the Canadian Accounting Standards Board (AcSB)?
A) Accounting Standards for Private Enterprises (ASPE)
B) International Financial Reporting Standards (IFRS)
C) GAAP for pension plans
D) GAAP for not-for-profit entities

Question

Quizplus · Accepted Answer

International Financial Reporting Standards (IFRS) are developed by the International Accounting Standards Board (IASB), not the Canadian Accounting Standards Board (AcSB). Choices A, C, and D are all developed by the AcSB.

Which of the Following Sources of Generally Accepted Accounting Principles