Similarities Between U

question 141

Multiple Choice

Similarities between U.S.GAAP and IFRS include which of the following?

• A)Both U.S.GAAP and IFRS permit the same cost flow assumptions.
• B)Inventory is carried at the lower of cost or net realizable value under both U.S.GAAP and IFRS.
• C)Direct costing is required under both U.S.GAAP and IFRS.
• D)The definition of inventory is similar in both U.S.GAAP and IFRS.

---

Definitions:

First Sexual Intercourse

The initial experience of engaging in sexual activity, which is a significant event in an individual's sexual and psychological development.

Evolutionary Theory

Evolutionary theory is a scientific theory that explains the diversity of life on Earth through the process of natural selection and genetic variation.

Reproductively Advantageous

Traits or behaviors that increase the likelihood of reproductive success and are likely to be passed on to subsequent generations.

Birth Process

The series of physiological and physical events that lead to the delivery of a baby from the mother's uterus.