When Comparing U

question 7

Short Answer

When comparing U.S.GAAP and IFRS, regarding the level of details in the standards and the level of disclosure required, which of the following is correct? ​ $\begin{array}{ll}\text { U.S. GAAP } & \text { IFRS } \\\text { a. } & \\\text { Detail: More } & \text { Detail: Less } \\\text { Disclosure: More } & \text { Disclosure: Less }\\\\\text { b. }\\\text { Detail: More } & \text { Detail: Less } \\\text { Disclosure: Less } & \text { Disclosure: More } \\\\\text { c. } & \\\text { Detail: Less } & \text { Detail: More } \\\text { Disclosure: Less } & \text { Disclosure: More }\\\text { d. } & \\\text { Detail: Less } & \text { Detail: More } \\\text { Disclosure: More } & \text { Disclosure: Less }\end{array}$

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Definitions:

Synapse

A junction between two nerve cells, consisting of a minute gap across which impulses pass by diffusion of a neurotransmitter.

Long-Term Potentiation

A process, hypothesized to be a mechanism for long-term learning, in which neural circuits in the hippocampus are subjected to repeated and intense electrical stimulation, resulting in hippocampal cells that are more sensitive to stimuli than they were previously.

Long-Term Potentiation

A long-lasting enhancement in signal transmission between two neurons that results from stimulating them synchronously, believed to be a cellular basis for learning and memory.

Frontal Lobe

The part of the brain located at the front of each cerebral hemisphere, associated with reasoning, planning, parts of speech, movement, emotions, and problem-solving.