One Difference That Exists Between IFRS 8 and U

question 36

Multiple Choice

One difference that exists between IFRS 8 and U.S.GAAP is:

• A)There are no differences as the two pronouncements represent total convergence in segment reporting.
• B)U)S.GAAP says that segment assets must be 5% or greater of the total combined assets to be separately disclosed.
• C)U)S.GAAP does not require reporting of segment liabilities.
• D)U)S.GAAP explicitly includes intangibles in the definition of long-lived assets for geographic disclosures.

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Definitions:

Corporate-Level Strategy

The top-level strategic planning and decision-making that guides the overall direction, scope, and ambitions of a corporation.

Competing Business Opportunities

Different prospects or avenues through which a business can grow or expand in the market, often requiring prioritization and strategic choice.

Product Life Cycles

The stages through which a product passes from its development to eventual withdrawal from the market, including introduction, growth, maturity, and decline.

Adjusting Strategy

The process of modifying business strategies in response to changes in the internal or external environment.