Examlex
Which of the following statements is true?
IFRS
International Financial Reporting Standards, which is a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.
U.S. GAAP
United States Generally Accepted Accounting Principles, a framework of accounting standards, principles, and procedures used in the U.S. for financial reporting.
Earnings Per Share
A measure of a company's profitability, calculated as its net income divided by the total number of outstanding shares.
Income Statement
A financial statement that shows a company's revenues, expenses, and profits over a specific period.
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