Which of the following is true?
A) Transaction analysis is completely different under IFRS and GAAP.
B) Most transaction are recorded differently under IFRS and GAAP.
C) Transaction analysis is the same under IFRS and GAAP, but some transactions are recorded differently.
D) All transaction are recorded the same under IFRS and GAAP.

Question

Quizplus · Accepted Answer

Transaction analysis is generally the same under IFRS and GAAP, but there are some differences in how specific transactions are recorded.

Which of the Following Is True