Convergence of U.S. GAAP and IFRS is best described as: a. The replacement of U.S. GAAP by

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Convergence of U.S. GAAP and IFRS is best described as:

a. The replacement of U.S. GAAP by IFRS.

b. The replacement of IFRS by U.S. GAAP.

c. Changing existing U.S. GAAP so that any differences in IFRS will be insignificant.

d. Changing both existing U.S. GAAP and IFRS to reduce differences and developing new GAAP through a joint standard-setting process.

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Cornerstones Of Financial Accounting Current Trends Update

ISBN: 9781111527952

1st Edition

Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen

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