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Author Question: One difference between U.S. GAAP and IFRS is ________. A) U.S. GAAP allows LIFO and IFRS does not ... (Read 71 times)

Garrulous

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on: Jul 5, 2018
One difference between U.S. GAAP and IFRS is ________.
 
  A) U.S. GAAP allows LIFO and IFRS does not
  B) IFRS allows LIFO and U.S. GAAP does not
  C) U.S. GAAP allows FIFO and IFRS does not
  D) IFRS allows FIFO and U.S. GAAP does not

Question 2

Merchandise returned by a customer for a refund is called a sales discount.
 a. True
   b. False
   Indicate whether the statement is true or false


heyhey123

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Reply #1 on: Jul 5, 2018
Answer to Question 1

A

Answer to Question 2

False


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