All of the Following Are Differences Between International Standards and U.S.GAAP

question 13

Multiple Choice

All of the following are differences between international standards and U.S.GAAP regarding operating segments,except:

• A) IFRS requires disclosures about geographical segments, not business segments.
• B) IFRS requires two different bases of segmentation, a primary basis and a secondary basis.
• C) IFRS required more disclosure for primary segments
• D) The amounts disclosed under IFRS are based on the same accounting policies as the financial statements, not based on amounts reported to the chief operating decision maker.

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Definitions:

Upper Volcanic Unit

refers to the top layer of a volcanic formation, often characterized by the presence of solidified lava and volcanic rocks.

Correlate

To establish a mutual relationship or connection between two or more things, often in terms of cause and effect.

Distinctive Unit

A distinctive unit refers to a unique geological or ecological feature that is easily recognizable and sets it apart from surrounding units, often used for mapping and study purposes.

Carbon-14

A radioactive isotope of carbon used in radiocarbon dating to determine the age of organic materials.