Dirty surplus accounting is: not allowed by U.S. GAAP. is a sign that a firm\'s

Question

Dirty surplus accounting is:

not allowed by U.S. GAAP.

is a sign that a firm's accounting methods are misleading (dirty).

is related items that are not easily forecastable.

is a result of IRS rules that go against accrual accounting method such as accelerated deprecation.

not allowed by U.S. GAAP.

is a sign that a firm's accounting methods are misleading (dirty).

is related items that are not easily forecastable.

is a result of IRS rules that go against accrual accounting method such as accelerated deprecation.

Explanation / Answer

Correct Answer is A. Not allowed by U.S. GAAP

Explanation : It is an accounting system followed by IFRS, wherein some income items appear as adjustments to stockholders equity rathers than as a part of gains and losses in the income statement.

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