Indicate whether each of the following describes an accounting treatment that is acceptable under IFRS, U.S.GAAP, both, or neither, by checking the appropriate box.
					?	?	?	?	?
?	Acceptable Under
	IFRS	U.S. GAAP	Both	Neither
1.A company takes out a loan to finance the construction of a building that will be used by the company. The interest on the loan is capitalized as part of the cost of the building.	?	?	?	?
2.Inventory is reported on the balance sheet using the last-in,first-out(LIFO) cost flow assumption.	?	?	?	?
3.The gain on a sale-leaseback transaction classified as an operating lease is deferred and amortized over the lease term.	?	?	?	?
4.A company writes a fixed asset down to its recoverable amount and recognizes an impairment loss in Year1. In a subsequent year, the recoverable amount is determined to exceed the asset's carrying value, and the previously recognized impairment loss is reversed.	?	?	?	?
5.A company pays less than the fair value of net assets acquired in the acquisition of another company. The acquirer recognizes the difference as a gain on purchase of another company.	?	?	?	?
6.A company enters into an eight-year lease on equipment that is expected to have a useful life of 10 years. The lease is accounted for as an operating lease.	?	?	?	?
7.An intangible asset with an active market that was purchased two years ago is carried on the balance sheet at fair value.	?	?	?	?
8.In preparing interim financial statements, interim periods are treated as discrete reporting periods rather than as an integral part of the full year.	?	?	?	?
9.Development costs are capitalized when certain criteria are met.	?	?	?	?
10.Interest paid on borrowing is classified as an operating activity in the statement of cash flows.	?	?	?	?