Similarities between International Financial Reporting Standards $($IFRS$)$ and U$.$S$.$ GAAP include

all of the following except

A$)$ Cash$-$basis accounting is not in accordance with either IFRS or U$.$S$.$ GAAP.

B$)$ Both IFRS and U$.$S$.$ GAAP allow revaluation of items such as land and buildings to fair

value.

C$)$ Both IFRS and U$.$S$.$ GAAP divide the economic life of companies into artificial time periods.

D$)$ The form and content of financial statements are very similar under IFRS and U$.$S$.$ GAAP.