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CFA Level 1 Question of the Week - Financial Reporting and Analysis
The main difference
between IFRS and US GAAP with regard to cost model reporting is that:
CFA Level 1 Question of the Week - Financial Reporting and Analysis 7 votes
A. Under IFRS, assets must be depreciated separately.
B. Under IFRS, it is not required to review the residual value and useful life of an asset annually.
C. IFRS does prescribe a particular method for computing depreciation.