Which of the Following Is a Difference Between IAS 37

question 12

Multiple Choice

Which of the following is a difference between IAS 37 and U.S. GAAP with respect to restructuring provisions?

• A) U.S. GAAP does not allow recognition of a restructuring provision until a liability has been incurred.
• B) There is no difference between IAS 37 and U.S. GAAP with respect to restructuring provisions.
• C) IAS 37 does not allow recognition of a restructuring provision until a liability has been incurred.
• D) A restructuring provision and related loss is more likely to occur later under IAS 37 than under U.S. GAAP.

---

Definitions:

Genetic Factors

Genetic factors are hereditary influences determined by one's DNA that can affect various aspects of physical and psychological traits.

Environmental Factors

External elements like climate, terrain, and human activities that influence living organisms and the ecosystem.

Epigenetics

Nongenetic influences on a gene’s expression, such as stress, nutrition, and so forth.

Genetic Expression

The process by which information from a gene is used in the synthesis of a functional gene product, often leading to the manifestation of a particular trait or characteristic.