Which of the Following Is False with Regard to Accounting

question 28

Multiple Choice

Which of the following is false with regard to accounting standards for segment reporting according to International Financial Reporting Standards (IFRS) and U.S. GAAP?

• A) IFRS and U.S. GAAP do not each require disclosure of segment liabilities.
• B) IFRS and U.S. GAAP both require disclosure of intangible assets attributable to geographic segments.
• C) According to IFRS, operating segments can be based on products and services.
• D) According to IFRS, operating segments can be based on geographic areas.
• E) IFRS and U.S. GAAP both require disclosure of total assets.

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Definitions:

Vacation Time

A period of time allocated for rest, travel, or recreation, often away from one's regular work or school environment.

Groove

A term that can refer to a musical rhythm that feels particularly compelling or to a long, narrow cut or depression in a surface.

Exercise

Physical activities intended to improve strength and fitness.

Homework Assignments

Tasks assigned to students by their teachers to complete outside of class time, intended to reinforce lessons learned in the classroom.