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Which of These Statements Regarding the IFRS and U

Question 78

Multiple Choice

Which of these statements regarding the IFRS and U.S. GAAP is correct?


A) U.S. GAAP is considered to be "principles-based".
B) U.S. GAAP is considered to be less detailed than IFRS.
C) IFRS is considered to be "principles-based" and less detailed than U.S. GAAP
D) Both U.S. GAAP and IFRS are considered to be "rules-based", but U.S. GAAP tends to be more complex.

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