How Does IAS 34 (Interim Financial Reporting)differ from U

question 16

Multiple Choice

How does IAS 34 (Interim Financial Reporting) differ from U.S.GAAP?

• A)U)S.GAAP has no guidance for interim financial reporting.
• B)U)S.GAAP takes the position that interim periods are an integral part of the full year.
• C)U)S.GAAP is the same as IAS 34.
• D)U)S.GAAP requires that an interim period be projected pro rata for the entire year.

---

Definitions:

Busing

The means of transporting students via buses to achieve school integration in the 1970s.

Griggs V. Duke

A landmark 1971 Supreme Court case (Griggs v. Duke Power Co.) that prohibited employment discrimination and established the principle of disparate impact, shaping civil rights and labor law.

Racially Neutral

Refers to policies, actions, or attitudes that do not favor any specific race or ethnic group, aiming for fairness and equality across racial lines.