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 the above components to be shown separately.
C)IFRS requires that the after-tax gain or loss from operations and the after-tax gain or loss on asset disposal be shown separately.
D)IFRS requires no separate disclosure for discontinued operations.

Question

Quizplus · Accepted Answer

One major difference between IFRS and U.S.GAAP relative to discontinued operations is that U.S.GAAP requires the after-tax gain or loss from operations and the after-tax gain or loss on asset disposal to be shown separately, while under IFRS they can be shown either separately or combined.

What Is One Major Difference Between IFRS and U