For which of the following topics is accounting under both U.S.GAAP and IFRS essentially the same?
A)Receivables.
B)Long-term assets.
C)Inventory.
D)Research and development expenditures.

Question

Quizplus · Accepted Answer

Both U.S. GAAP and IFRS have similar principles for accounting for receivables, including the recognition of bad debt expenses and the use of the allowance method.

For Which of the Following Topics Is Accounting Under Both