U.S.GAAP and IFRS provide guidance for deciding whether a given financing arrangement appears as a liability on the balance sheet or is disclosed in the notes.

Question

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Both U.S.GAAP and IFRS provide guidance on the recognition and disclosure of financing arrangements. They help determine whether a financing arrangement should be recorded as a liability on the balance sheet or in the notes to the financial statements.

USGAAP and IFRS Provide Guidance for Deciding Whether a Given