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2025-10-20

What is a key difference between Japanese GAAP and IFRS

What is a key difference between Japanese GAAP and IFRS

What is a key difference between Japanese GAAP and IFRS?

A. Consolidation requirements are stricter in Japanese GAAP.

B. Japanese GAAP permits FIFO inventory valuation.

C. IFRS allows more use of historical cost.

D. Japanese GAAP requires segment reporting.

Answer: B

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