All of the following are differences between international standards and U.S. GA
ID: 2427131 • Letter: A
Question
All of the following are differences between international standards and U.S. GAAP regarding operating segments, except:
IFRS requires disclosures about geographical segments, not business segments.
IFRS requires two different bases of segmentation, a primary basis and a secondary basis.
IFRS requires more disclosure for primary segments.
The amounts disclosed under IFRS are based on the same accounting policies as the financial statements, not based on amounts reported to the chief operating decision maker.
A.IFRS requires disclosures about geographical segments, not business segments.
B.IFRS requires two different bases of segmentation, a primary basis and a secondary basis.
C.IFRS requires more disclosure for primary segments.
D.The amounts disclosed under IFRS are based on the same accounting policies as the financial statements, not based on amounts reported to the chief operating decision maker.
Explanation / Answer
Answer A is correct.
IFRS and International Standard requires disclosures about geographical segments as well as business segments.