The basic tools of financial analysis are the same under both GAAP and IFRS except that: (a)

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The basic tools of financial analysis are the same under both GAAP and IFRS except that:

(a) horizontal analysis cannot be done because the format of the statements is sometimes different.

(b) analysis is different because vertical analysis cannot be done under IFRS.

(c) the current ratio cannot be computed because current liabilities are often reported before current assets in IFRS statements of position.

(d) None of the above.

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Financial And Managerial Accounting

ISBN: 9781118004234

1st Edition

Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt

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