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Which of the Following Is Correct Regarding the Guidance Provided

Question 12

Multiple Choice

Which of the following is correct regarding the guidance provided by IFRS and U.S.GAAP?


A) In the construction industry,IFRS provides specific guidance for revenue recognition on contracts.
B) In the software industry,IFRS provides specific guidance for typical software arrangements,upfront fees,and multiple deliverable arrangements.
C) In the software industry,U.S.GAAP only provides general guidance.
D) None of the above.

Correct Answer:

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