Which of the following terms or phrases is more associated with financial statements prepared in accordance with U.S. GAAP than those prepared in accordance with International Financial Reporting Standards?
A) Ordinary shares.
B) Asset revaluation reserve.
C) Share premium.
D) Accumulated other comprehensive income.

Question

Quizplus · Accepted Answer

"Accumulated other comprehensive income" is a term used specifically in U.S. GAAP, whereas the other options are used in both U.S. GAAP and IFRS.

Which of the Following Terms or Phrases Is More Associated