Describe How U

question 116

Essay

Describe how U.S.GAAP differ from IFRS in the way inventory may be recorded.

---

Definitions:

Polymorphism

A concept in object-oriented programming that allows methods to do different things based on the object that it is acting upon, supporting methods with the same name but different implementations.

Late Binding

A programming concept where method calls are resolved at runtime, allowing for more dynamic and flexible code.

Final Modifier

The final modifier in Java is a keyword used to declare a variable as unchangeable after its initial assignment, a method that cannot be overridden, or a class that cannot be subclassed.

Derived Class

A class in object-oriented programming that inherits properties and behavior from another class, known as the base class.