Similarities Between IFRS and U

Multiple Choice

Similarities between IFRS and U.S. GAAP requirements for balance sheet presentation include all of the following except:

A) Both require that changes to the valuation reserve be disclosed in the notes to the financial statements.
B) Both require disclosure of significant accounting policies.
C) Both require the preparation of financial statements annually.
D) Both generally require the use of the current/ non-current classification for both assets and liabilities.