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.
Answer: D
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Linda Moore is a commission salesperson whose territory for the last nine years has been the entire state of Virginia. Through hard work she has greatly increased her company's business in the region. Now her manager has decided to split the state into two territories. Moore can most likely expect to:
A. earn less sales revenue. B. earn more sales revenue. C. receive additional key accounts. D. be fired from her job. E. gain more customers.
Back Company sold merchandise on credit. Its gross profit ratio is 23%. The effect of this transaction is that the
a. earnings per share decreased b. current ratio was unchanged c. debt-to-equity ratio increased d. earnings per share increased
A benchmarking process that is non-industry specific and focuses on how companies compete is referred to as ___________________________________
Fill in the blank(s) with correct word
As a company's accounts receivable turnover ratio increases from one year to the next, they will find that the number of days' sales in receivables:
A) decreases. B) increases. C) stays the same. D) can not be determined.