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Which of the following statements is true? a . U . S . GAAP requires expenses to be classified by their nature and function. b
Which of the following statements is true?
a US GAAP requires expenses to be classified by their nature and function.
b The SEC prohibits certain performance measures from being presented on the income statement.
c Under US GAAP and IFRS, the presentation of discontinued operations is still very different.
d IFRS require a multiplestep income statement.
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