Why might a large private company choose to use full IFRS?
A)Its assets exceed $10,000,000.
B)It only uses debt financing.
C)It only uses equity financing.
D)It competes with public companies for financing.

Question

Quizplus · Accepted Answer

A large private company may choose to use full IFRS to align its financial statements with those of public companies, which are required to use IFRS. This can improve the company's credibility and comparability with other entities in the market, and make it more attractive to investors and lenders. By using full IFRS, the company can also demonstrate its commitment to transparency and good governance, which can help to build trust with stakeholders.

Why Might a Large Private Company Choose to Use Full