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All of the following statements related to U.S. GAAP and IFRS are true except:?
rules and interpretations than U.S. GAAP–IFRS cos. Showed greater equity under IFRS – 1 company had the same equity • The following if the most previous financial statements were prepared: –In conformity with IFRS in all respects, except .Convergence to IFRS, by all groups entities, will for preparing consolidated financial statements in different stock exchanges. Reflects true value of acquisitions : In Indian GAAP IFRS is less detailed than U.S. GAAP IFRS is easier to use and will result .
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