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:

Service

An intangible economic good that involves the provision of labor or expertise rather than a physical product.

Uber

A technology company that offers services such as ride-sharing, food delivery, and a freight carrier platform, primarily known for its mobile app that connects users with drivers.

St. Jude Children's Research Hospital

A pediatric treatment and research facility focused on children's catastrophic diseases, particularly leukemia and other cancers.

Ideas

Creative thoughts or plans that are generated in the mind, often serving as a foundation for innovation, problem-solving, or artistic expression.