How Does U

question 13

Multiple Choice

How does U.S.GAAP differ from IFRS with respect to presenting consolidated financial statements?

• A)U.S.GAAP requires all controlled subsidiaries to be consolidated, whereas IFRS allows for optional consolidated financial statements.
• B)IFRS excludes subsidiaries acquired for disposal within one year from the consolidation requirement, whereas U.S.GAAP requires all controlled subsidiaries to be consolidated.
• C)U.S.GAAP allows a company to exclude subsidiaries it is holding for sale from the consolidation process.
• D)IFRS requires the parent company to own 50% of the voting shares of the subsidiary before consolidation is allowed.

---

Definitions:

Netizen

A citizen of the internet; an individual who actively participates in the online community.

Virtual World

A computer-simulated environment that can be inhabited and interacted with by multiple users.

Virus-free

Refers to a state where a computer or digital system is free from any malicious software or viruses that could cause harm or unauthorized access.

Attachments

Files sent along with an email message or included in web pages, applications, or other digital communications.