Which of the following is not an advantage of IFRS? a. The u of IFRS should increase the comparability and transparency of financial information. b. The use of IFRS will make it easier to access foreign capital markets. IFRS require more judgments than U.S. GAAP. d. IFRS arc less conservative than U.S. GAAP, so net income under IFRS will generally be higher than net income under U.S. GAAP.

BuyFind

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881
BuyFind

Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
Publisher: Cengage Learning
ISBN: 9781337690881

Solutions

Chapter A1, Problem 5MCQ
Textbook Problem

Which of the following is not an advantage of IFRS?

a. The u of IFRS should increase the comparability and transparency of financial information.

b. The use of IFRS will make it easier to access foreign capital markets. IFRS require more judgments than U.S. GAAP.

d. IFRS arc less conservative than U.S. GAAP, so net income under IFRS will generally be higher than net income under U.S. GAAP.

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