7. IFRS uses a fair value test to measure impairment loss. However, IFRS does not use the first-stage recoverability test under U.S. GAAP comparing the undiscounted cash flow to the carrying amount. As a result, the IFRS test is A) not as strict as U.S. GAAP. B) more strict than U.S. GAAP. C) None of the above. D) essentially the same strictness as U.S. GAAP