Question

Select all that apply GAAP and IFRS rules ______. require that the same method be used for both internal and external segment reporting create incentives for companies to use the contribution margin format in segment reporting require segmented financial data be included in annual reports create problems in reconciling internal and external reports

Answer 1

Answer:

The correct options are "A, C, and D".

Explanation:

• GAAP becomes regarded as a relatively 'rules-based' management framework, seems to be the accounting technique used throughout the United States
• IFRS becomes quite 'principles-based', although this would be the accounting framework used in more than 110 countries throughout the globe.
• These allow the same approach being used for international and domestic section reporting, which generate reconciliation issues.