Which of the following statements best describes the difference between U.S. GAAP and IFRS with respect to revenue recognition?
a. IFRS has a substantial amount of industry specific guidance for revenue recognition.
b. IFRS revenue recognition is not consistent with U.S. GAAP in principle.
c. There are subtle differences in the wording of U.S. GAAP as compared with IFRS.
d. IFRS has four criteria and U.S. GAAP has five conditions for revenue recognition.
C
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Which of the following is a frequent barrier to effective measurement?
A. Communication is bureaucratic. B. Top executives create the organization's strategy. C. The organizational culture overemphasizes teamwork. D. Employees resist new measurement systems. E. The organizational culture allows too much risk taking.
Information being shared in ______ way is often inaccurate and directed at those not present to defend themselves.
A. cyberbullying B. harassment C. gossiping D. sharing secrets
Which of the following is true of competitive parity?
A. It does not allow firms to exploit the unique opportunities or problems they confront in a market. B. It does not take into account new plans (e.g., to introduce a new line of products in the current year). C. It assumes the same percentage used in the past, or by competitors, is still appropriate for the firm. D. If all competitors use this method to set communication budgets, their market shares will stay increase over time. E. It assumes communication expenses do not stimulate sales and profit.
The price of one country's currency expressed in terms of another country's currency is referred to as the
A. balance of payments. B. transfer payment. C. money conversion factor. D. balance of price. E. currency exchange rate.