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1. What is the main change regarding U.S. GAAP converging their Revenue Recognition rules with IFRS? 2. Explain the three ways that contingencies (i.e., unknown

1. What is the main change regarding U.S. GAAP converging their Revenue Recognition rules with IFRS?

2. Explain the three ways that contingencies (i.e., unknown gains/assets or losses/liabilities) are different under U.S. GAAP AND IFRS

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