Which of the Following Is Not True in Comparing U

question 8

Multiple Choice

Which of the following is not true in comparing U.S.GAAP and International Financial Reporting Standards (IFRS) ?

• A)IFRS and U.S.GAAP both allow intangible assets to be reported at their cost minus accumulated amortization.
• B)U.S.GAAP requires expensing of all costs of research and development.
• C)IFRS allows for adjustments for increases in fair value of tangible assets.
• D)IFRS requires capitalizing of research costs and expensing of development costs.

---

Definitions:

Christianity

A monotheistic religion based on the life and teachings of Jesus Christ, emphasizing salvation, the role of Jesus as the Son of God, and the existence of the Holy Trinity.

Santa Costanza

An ancient church in Rome, Italy, known for its early Christian architecture and mosaics, architecturally significant as an example of a central plan structure.

Mausoleum of Galla Placidia

A renowned early Christian monument in Ravenna, Italy, known for its stunning mosaics, built in the 5th century as the final resting place for Galla Placidia.

Pantheon

An ancient Roman building known for its large dome and as a temple to all the gods of ancient Rome.