Which is not an example of trade-offs made in the IFRS Framework?
A)Relevance versus representational faithfulness.
B)Comparability versus consistency.
C)Physical capital versus financial capital.
D)Timeliness versus verifiability.

Question

Quizplus · Accepted Answer

Physical capital versus financial capital is not an example of trade-offs made in the IFRS Framework. The IFRS Framework focuses on accounting-related trade-offs such as relevance versus representational faithfulness, comparability versus consistency, and timeliness versus verifiability. Physical capital versus financial capital is a broader economic concept that refers to the allocation of resources between physical assets (such as equipment and buildings) and financial assets (such as stocks and bonds).

Which Is Not an Example of Trade-Offs Made in the IFRS