1). GAAP allows companies that would normally use the equity method the option of using the fair value method, assuming the value of the stock is readily determinable. True and False

2). FRS allows companies that would normally use the equity method the option of using the fair value method, assuming the value of the stock is readily determinable. True and False

3). The concepts of significant influence and control under GAAP are very similar to the concepts used in IFRS. True and False

Answer rating: 100% (QA)

1 False Equity method of accounting is used to asses... View the full answer