单选题 Are changes in accounting principles and extraordinary items treated similarly in accordance with U.S. Generally Accepted Accounting Principles and International Financial Reporting Standards?
Accounting principles Extraordinary items
①A. Yes Yes
②B. No No
③C. Yes No

A、 ①
B、 ②
C、 ③

【正确答案】 C

【答案解析】Treatment of a change in an accounting principle is similar under U. S. GAAP and IFRS. Under both standards, a change in accounting principle is made retrospectively. The treatment of extraordinary items differs between U.S. GAAP and IFRS. Under U.S. GAAP, extraordinary items are reported net of tax below income from continuing operations. IFRS does not permit firms to treat transactions as extraordinary in the income statement.