Which of the following statements regarding GAAP and IFRS is not true?

Select one:

a.

The Provision for Doubtful Accounts (IFRS) is equivalent to the Allowance for Doubtful Accounts (GAAP).

b.

The accounting and reporting related to cash is essentially the same under both IFRS and GAAP.

c.

Under GAAP, bank overdrafts are generally reported as cash. Under IFRS, such balances are reported as liabilities.

d.

Under IFRS, companies may report cash and receivables as the last items in current assets.