Which of the following is a difference between IAS 37 and U.S. GAAP with respect to restructuring provisions?
A. S. GAAP does not allow recognition of a restructuring provision until a liability has been incurred.
B. There is no difference between IAS 37 and U.S. GAAP with respect to restructuring provisions.
C. IAS 37 does not allow recognition of a restructuring provision until a liability has been incurred.
D. A restructuring provision and related loss is more likely to occur later under IAS 37 than under U.S. GAAP.
Answer:A
Which of the following is a difference between IAS 37 and U.S. GAAP with respect to restructuring provisions?
A. S. GAAP does not allow recognition of a restructuring provision until a liability has been incurred. B. There is no difference between IAS 37 and U.S. GAAP with respect to restructuring provisions. C. IAS 37 does not allow recognition of a restructuring provision until a liability has been incurred. D. A restructuring provision and related loss is more likely to occur later under IAS 37 than under U.S. GAAP.