Which of the following does NOT support the use of Accounting Standards for Private Enterprises (ASPE)?
A) Private enterprises usually have less complex business models.
B) Private enterprises that are "going public."
C) Private enterprises usually have fewer users.
D) Private enterprises' financial statement users tend to have first-hand information.

Question

Quizplus · Accepted Answer

ASPE is meant for private enterprises, not those that are "going public." Such enterprises would typically transition to International Financial Reporting Standards (IFRS) to comply with public reporting requirements.

Which of the Following Does NOT Support the Use of Accounting