With regard to the presentation of financial information under IFRS, which of the following is true?

a. The terminology on the balance sheet and the income statement is the same under IFRS and U.S. GAAP.

b. Under IFRS, the element of the balance sheet are often presented in reverse order relative to U.S. GAAP, with noncurrent assets presented before current assets and stockholders’ equity presented before liabilities.

c. Under IFRS, the elements of the income statement are often presented in reverse order, with expenses presented first followed by revenues.

d. IFRS do not require the presentation of a statement of cash flows.