Question: How do IFRS and U . S . GAAP differ in their approach to allowing reversals of inventory write - downs? Multiple Choice U .

How do IFRS and U.S. GAAP differ in their approach to allowing reversals of inventory write-downs?
Multiple Choice
U.S. GAAP prohibits the reversal of past write-downs
IFRS allows reversal from cost to net realization value (NRV)
All of these choices are correct.
IFRS requires the reversal of write-downs

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