Which of the following statements best describes how gaap

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Which of the following statements best describes how GAAP and IFRS treat cash?

	GAAP is more strict about what is considered cash than IFRS.
	IFRS requires a cash balance of at least 10% of total assets; IFRS requires a cash balance of at least 5% of total assets.
	IFRS are more strict about what is considered cash than GAAP.
	Accounting definitions for cash are similar for U.S. GAAP and IFRS.
	GAAP requires anything other than coins and bills in hand to be classified as cash equivalents while IFRS classifies coins and bills as cash equivalents.

Reference no: EM13589365

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