How Does U

Multiple Choice

How does U.S.GAAP differ from IFRS with respect to presenting consolidated financial statements?

A) U.S.GAAP requires all controlled subsidiaries to be consolidated, whereas IFRS allows for optional consolidated financial statements.
B) IFRS excludes subsidiaries acquired for disposal within one year from the consolidation requirement, whereas U.S.GAAP requires all controlled subsidiaries to be consolidated.
C) U.S.GAAP allows a company to exclude subsidiaries it is holding for sale from the consolidation process.
D) IFRS requires the parent company to own 50% of the voting shares of the subsidiary before consolidation is allowed.