Match the U. S. GAAP term with the IFRS term. There may be more than one match
Question:
U. S. GAAP
A. Contributed capital
B. Additional paid- in capital
C. Retained earnings
D. Accumulated other comprehensive income
E. Common stock
GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
Transcribed Image Text:
IFRS - Reserves -Accumulated profit and loss Answer Share premium -Other reserves - Share capital
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USGAAP A Contributed capital B Additional paidinc...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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