GAAP's provision for ownership of goods (goods-in-transit or consigned goods), as well as which costs to include in inventory, as compared to IFRS are: $\begin{array}{ll}
\text { \underline{\text{Ownership of goods }} } & \text { \underline{\text{Costs to include in inventory }} } \
\text { a. essentially similar } & \text { essentially similar } \
\text { b. essentially different } & \text { essentially different } \
\text { c. essentially similar } & \text { essentially different } \
\text { d. essentially different } & \text { essentially similar }
\end{array}$

Question

GAAP's provision for ownership of goods (goods-in-transit or consigned goods), as well as which costs to include in inventory, as compared to IFRS are: $\begin{array}{ll}
\text { \underline{\text{Ownership of goods  }}   } & \text { \underline{\text{Costs to include in inventory }}  } \
\text { a. essentially similar } & \text { essentially similar } \
\text { b. essentially different } & \text { essentially different } \
\text { c. essentially similar } & \text { essentially different } \
\text { d. essentially different } & \text { essentially similar }
\end{array}$

Quizplus · Accepted Answer

The Answer of GAAP's provision for ownership of goods (goods-in-transit or consigned goods), as well as which costs to include in inventory, as compared to IFRS are: $\begin{array}{ll}
\text { \underline{\text{Ownership of goods  }}   } & \text { \underline{\text{Costs to include in inventory }}  } \
\text { a. essentially similar } & \text { essentially similar } \
\text { b. essentially different } & \text { essentially different } \
\text { c. essentially similar } & \text { essentially different } \
\text { d. essentially different } & \text { essentially similar }
\end{array}$

GAAP's Provision for Ownership of Goods (Goods-In-Transit or Consigned Goods)