Question: Which statement is false? LIFO is available under IFRS. Inventory write - down are allowed under IFRS. Under IFRS, extraordinary items are not segregated .

Which statement is false? LIFO is available under IFRS. Inventory write-down are allowed under IFRS. Under IFRS, extraordinary items are not segregated . Under GAAP, development costs are not capitalized . IFRS does not allow the Full Cost Method beyond the E&E stages.

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