Which of the following is a correct statement with regard to differences between IFRS and U.S. GAAP?

A. Reporting past service cost for defined benefit pension plans is a measurement difference.
B. Reporting LIFO inventory is a presentation difference.
C. Reporting development costs is a classification difference.
D. Reporting a bank overdraft that is an integral part of a cash management policy is a recognition difference.
E. Reporting convertible debt is a recognition difference.


Answer: A

Business

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