Knowledge Check 01 Which of the following describes the primary difference between U.S. GAAP and IFRS with respect to the statement of comprehensive Income? Multiple Choice US GAAP los companies to report comprehensive income in other a single statement of comprehensive income or in two separate statements: IERS requires a single statement approach IFRS Wows companies to report comprehensive income in other a single statement of comprehensive income or in two separate statement US GAAD requires two separate statements Other comprehensive income items are simlar under the two sets of standards 0 An additional Ocem. changes in relation surplus possible under US GAAP