Which of These Statements Regarding the IFRS and U

question 78

Multiple Choice

Which of these statements regarding the IFRS and U.S. GAAP is correct?

• A) U.S. GAAP is considered to be "principles-based".
• B) U.S. GAAP is considered to be less detailed than IFRS.
• C) IFRS is considered to be "principles-based" and less detailed than U.S. GAAP
• D) Both U.S. GAAP and IFRS are considered to be "rules-based", but U.S. GAAP tends to be more complex.

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Definitions:

Disease

A condition that negatively affects the structure or function of part or all of an organism, not directly resulting from physical injury.

Combat Wounds

Injuries received by soldiers or military personnel during combat operations, which can range from minor injuries to life-threatening conditions.

Teller Amendment

A resolution passed in 1898 that promised the United States would not annex Cuba following the Spanish-American War and would recognize Cuban independence.

Annex Cuba

The idea or historical attempts to incorporate Cuba into the United States as a territory or state.