Differences That Currently Exist Between IFRS and U

question 34

Multiple Choice

Differences that currently exist between IFRS and U.S.GAAP with regard to the presentation of information on the income statement include all of the following except

• A)different acceptable terminology relating to revenue items
• B)depreciation measures differ when equipment has been revalued
• C)different performance measures such as EBITDA are permitted under IFRS
• D)differences resulting because IFRS does not require the use of accrual accounting under the historical cost framework

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Definitions:

Vocal Folds

Muscular membranes in the larynx that produce sound when air is expelled through them, also known as vocal cords.

Glottis

Vocal apparatus; includes vocal folds and the cleft between them.

Vocal Folds

Also known as vocal cords, these are mucous membrane folds in the larynx that vibrate to produce sound for speech and singing.

Vestibular Folds

Folds of mucous membrane situated above the vocal cords in the larynx, also known as false vocal cords.