What is true about both IFRS and U.S. GAAP with respect to service contracts?
A. IFRS and U.S. GAAP both allow the use of the percentage-of-completion method.
B. Neither IFRS, nor U.S. GAAP allows the use of the percentage-of-completion method.
C. IFRS allows the use of the percentage-of-completion method while U.S. GAAP does not.
D. S. GAAP allows the use of the percentage-of-completion method while IFRS does not.
Answer:C
What is true about both IFRS and U.S. GAAP with respect to service contracts?
A. IFRS and U.S. GAAP both allow the use of the percentage-of-completion method. B. Neither IFRS, nor U.S. GAAP allows the use of the percentage-of-completion method. C. IFRS allows the use of the percentage-of-completion method while U.S. GAAP does not. D. S. GAAP allows the use of the percentage-of-completion method while IFRS does not.