does not have a contractual or other basis to demonstrate that influence .) Question 13 What is the major difference between how U . S GAAP and IFRS handle share-based payments ? Question 14 Which of the following does IFRS require accounting students and educators to learn ? Question 15 What is the appropriate reason why people object to adopting the roadmap ? Question 16 Recoverable amount is the higher of the following : Question 17 What is the correct order of steps in applying the revenue recognition model ?( 1 ) Identify the separate performance obligations in the contract ( 2 ) Identify the contract with the customer ( 3 ) Determine the transaction price for the entire contract ( 4 ) Recognize revenue when each separate performance obligation is satisfied ( 5 ) Allocate the transaction price to separate performance obligation Question 18 Which are two conditions that must be met before revenue is to be recognized under IFRS ? Question 19 Which one is not a characteristic of rules-based standards ? Question 20 Which point supports the use of IFRS by U . S . public companies ? Question 21 Which of the following is not a component of the Conceptual Framework for Financial Reporting ? Question 22 Which international organization began the movement toward international accounting standards ? Question 23