What Is a Major Difference Between GAAP and IFRS with Regard

Multiple Choice

What is a major difference between GAAP and IFRS with regard to recognition of revenue?

A) Under IFRS, the seller does not have to transfer risks and rewards of ownership to the buyer.
B) IFRS does not require delivery of goods for revenue to be recognized.
C) Under IFRS, the price of the goods does not have to be fixed or determinable.
D) Under IFRS, the seller may retain managerial involvement over the goods after sale.