A) Both IFRS and U.S. GAAP require that property, plant and equipment be reported at historical cost on the balance sheet.
B) Both IFRS and U.S. GAAP require that comparative information be reported.
C) One difference between the reporting requirements under IFRS and those of U.S. GAAP balance sheet is that an IFRS balance sheet may list long-term assets first.
D) The presentation formats required by IFRS and U.S. GAAP for the balance sheet are similar.
This question was asked on Sep 29, 2011 and answered on Sep 30, 2011.
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