Which of the Following Statements Is incorrect Concerning Balance Sheets

Multiple Choice

Which of the following statements is incorrect concerning balance sheets prepared under IFRS and GAAP?

A) The same elements are used in preparing balance sheets under both GAAP and IFRS.
B) Under IFRS stockholders' equity is listed before liabilities,while under GAAP liabilities are listed before stockholders' equity.
C) Under GAAP assets are usually listed in increasing order of liquidity,while under IFRS assets are usually listed in decreasing order of liquidity.
D) Under GAAP current items are presented first,while under IFRS noncurrent items are presented first.