What Is One Major Difference Between IFRS and U

question 30

Multiple Choice

What is one major difference between IFRS and U.S.GAAP relative to discontinued operations?

• A)U.S.GAAP requires that the after-tax gain or loss from operations and the after-tax gain or loss on asset disposal be shown as a combined item.
• B)U.S.GAAP requires both pre-tax and after-tax profit and loss on discontinued operations to be reported on the income statement.
• C)The definition of the type of operation that can be classified as discontinued is narrower under U.S.GAAP.
• D)IFRS requires no separate disclosure for discontinued operations.

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Definitions:

Passionate

Showing or caused by strong feelings or a strong belief.

Romantic

Relating to feelings of love or a strong emotional connection between people, often characterized by passion and intimacy.

Physical Attractiveness

The extent to which someone's physical appearance is deemed attractive or lovely.

Empirical Research

A way of gaining knowledge by means of direct observation or experiment, which is based on empirical evidence.