What is one major difference between IFRS and U.S.GAAP relative to discontinued operations?
A) U.S.GAAP requires that the after-tax gain or loss from operations and the after-tax gain or loss on asset disposal be shown as a combined item.
B) U.S.GAAP requires both pre-tax and after-tax profit and loss on discontinued operations to be reported on the income statement.
C) The definition of the type of operation that can be classified as discontinued is narrower under U.S.GAAP.
D) IFRS requires no separate disclosure for discontinued operations.
Correct Answer:
Verified
Q24: Under IAS 38, which of the following
Q29: Through 50 years of high quality service,
Q40: Under U.S. GAAP, if the carrying value
Q42: Which of the following is true about
Q43: Under IAS 10 (Events after the Reporting
Q43: Synergy Ltd. purchased a building in 2008
Q45: Under a joint exposure draft issued by
Q47: IASB standards address related party transactions.According to
Q48: What is one major difference between IFRS
Q49: How does IAS 34 (Interim Financial Reporting)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents