One difference between U.S. GAAP and IFRS is ________. A) U.S. ...

[Garrulous]

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]

Answer to Question 1

A

Answer to Question 2

False