Accounting Terminology That Differs Between IFRS and US GAAP Include

question 1

Multiple Choice

Accounting terminology that differs between IFRS and US GAAP include all of the following EXCEPT:

• A) the use by IFRS of "turnover" for revenue.
• B) the use by IFRS of "share premium" for additional paid-in-capital.
• C) the use by IFRS of "other capital reserves" for retained earnings.
• D) the use by IFRS of "issued capital" for common stock.

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Definitions:

Cash Equivalent

Short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.

Treasury Bills

are short-term government securities with maturity dates typically one year or less, often used as a risk-free benchmark in financial markets.

Corporate Bonds

Debt securities issued by corporations to finance their operations, expansions, or projects, which pay interest to the holder until maturity.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources, sold or leased to earn profit.