IFRS differ from U.S.GAAP,in that IFRS ________.
A) allow long-term assets to be adjusted up to fair market values
B) require only probable contingent liabilities to be recorded
C) allow LIFO
D) do not allow internally generated intangible assets to be recorded
Correct Answer:
Verified
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Q148: IFRS are more _.
A)rule based than U.S.GAAP
B)principle
Q149: U.S.GAAP is more rule-based than IFRS.
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