Which of the following is a difference between US GAAP and IFRS when accounting for long-term tangible assets? * US GAAP allows long-term asset to be revalued at the end of each year instead of recognizing depreciation, and IFRS requires depreciation. * IFRS allows reversals of asset impairments even above the asset's original cost, and US GAAP does not. * US GAAP requires the recognition of all asset retirement obligations, but IFRS treats asset retirement obligations as contingent liabilities