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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

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