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Social Studies, 17.03.2020 03:21 mathman783
All of the following statements are true except: Group of answer choices The threshold for recording items as liabilities is a lower under IFRS than under U. S. GAAP. Under U. S. GAAP, a contingent item should be recorded as a liability if the loss or outflow is probable and can be reasonably estimated. The threshold for recording items as liabilities is a lower under U. S. GAAP than under IFRS. IFRS requires a liability to be recorded as a present value amount.
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