Differences That Currently Exist Between IFRS and U

question 34

Multiple Choice

Differences that currently exist between IFRS and U.S.GAAP with regard to the presentation of information on the income statement include all of the following except

• A)different acceptable terminology relating to revenue items
• B)depreciation measures differ when equipment has been revalued
• C)different performance measures such as EBITDA are permitted under IFRS
• D)differences resulting because IFRS does not require the use of accrual accounting under the historical cost framework