Which of the following statements is false regarding U.S. GAAP versus IFRS financial statement presentation?
a. U.S. GAAP does not require the presentation of a classified balance sheet.
b. IFRS requires the classification of assets and liabilities as current and noncurrent.
c. If a range of values is available for reporting an outcome in a loss contingency, U.S. GAAP requires a company to report the high end of the range as a probable outcome.
d. If a range of values is available for reporting an outcome in a loss contingency, IFRS requires a company to record the mid-point of the range as a probable outcome.
c
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