IFRS and GAAP are similar for each of the following except for the
A) accounting for contingent liabilities.
B) definition of a liability.
C) accounting for payroll taxes payable.
D) None of these answers are correct.

Question

Quizplus · Accepted Answer

IFRS and GAAP differ in their approach to accounting for contingent liabilities, particularly in terms of recognition and measurement criteria.

IFRS and GAAP Are Similar for Each of the Following