Which enterprise is publicly accountable and therefore must apply IFRS?

Answer

A family trucking company whose bonds trade on a public market

Options - A. A family trucking company whose bonds trade on a public market - B. A dental corporation owned by its three dentists - C. A ski centre financed by a bank loan and family shareholders - D. A landscaping company with 40 employees and one owner Why - A. Correct — debt instruments traded in a public market make an enterprise publicly accountable even when its shares are private. - B. Privately held shares, no public debt, no fiduciary role: not publicly accountable, so ASPE is available. - C. A bank loan is not a traded instrument; family shareholders are not a public market. ASPE is available. - D. Size and headcount are irrelevant to the test; only traded securities or a fiduciary business make it publicly accountable.

Lyryx Intermediate FA Vol 1 §2.3; Dauderis & Annand §1.2; CBCA s.24; verified-facts.md V1, V15