What Is the Fundamental Difference Between IFRS and GAAP

Multiple Choice

What is the fundamental difference between IFRS and GAAP?

A) GAAP relies more on general principles but ignores the spirit of those principles.
B) GAAP relies more on specific rules and the spirit of the rules.
C) GAAP relies more on specific rules but not the spirit of the rules.
D) GAAP relies more on general principles as well as the spirit of those rules.