Under IFRS: (a) the entry to record estimated uncollected accounts is the same as GAAP. (b) loans

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Under IFRS:

(a) the entry to record estimated uncollected accounts is the same as GAAP.

(b) loans and receivables should only be tested for impairment as a group.

(c) it is always acceptable to use the direct write-off method.

(d) all financial instruments are recorded at fair value.

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Accounting Tools For Business Decision Making

ISBN: 9780470534786

4th Edition

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

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