All of the Following Are Differences Between International Standards and U.S.GAAP

question 13

Multiple Choice

All of the following are differences between international standards and U.S.GAAP regarding operating segments,except:

• A) IFRS requires disclosures about geographical segments, not business segments.
• B) IFRS requires two different bases of segmentation, a primary basis and a secondary basis.
• C) IFRS required more disclosure for primary segments
• D) The amounts disclosed under IFRS are based on the same accounting policies as the financial statements, not based on amounts reported to the chief operating decision maker.

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Definitions:

Basaltic Shield-forming

The process of creating large, gently sloping volcanic mountains through the accumulation of fluid basaltic lava flows.

Welded Tuffs

Volcanic deposits formed from hot ash flows that solidify, with the particles welding together due to the heat.

Andesite

A volcanic rock of intermediate composition, typically found in volcanic arcs associated with subduction zones, characterized by a medium gray or brown color.

Silica Content

The proportion of silicon dioxide (SiO2) in a rock, mineral, or geological sample, influencing its physical properties and behavior.