Which of the terms or phrases listed below is more associated with financial statements prepared in accordance with U.S. GAAP than with International Financial Reporting Standards (IFRS)?
A) Accumulated other comprehensive income.
B) Investment revaluation reserve.
C) Share premium.
D) Preference shares.

Question

Quizplus · Accepted Answer

Accumulated other comprehensive income is a term more commonly associated with financial statements prepared under U.S. GAAP. Other comprehensive income includes items of income and expense that are not recognized in profit or loss as required or permitted by other U.S. GAAP.

Which of the Terms or Phrases Listed Below Is More