A Fundamental Difference Between Canadian GAAP and IFRS Is That

Multiple Choice

A fundamental difference between Canadian GAAP and IFRS is that:

A) There are no fundamental differences between Canadian GAAP and IFRS.
B) IFRS does not require a statement of comprehensive income.
C) Canadian GAAP records transactions in Canadian Dollars, whereas IFRS records transactions in Euros.
D) Fair value accounting plays a more important role under IFRS than Canadian GAAP.
E) Fair value accounting plays a more important role under Canadian GAAP than IFRS.