Because of a difference between IFRS and GAAP with respect to the classification of an instrument as a financial liability or as equity, certain instruments classified as liabilities under IFRS may be, under GAAP,

A) not disclosed at all
B) classified as other comprehensive income
C) classified as equity
D) may be classified as assets

IFRS

A global framework for financial reporting, International Financial Reporting Standards are accounting standards established by the International Accounting Standards Board (IASB).

Financial Liability

An obligation that requires the entity to transfer economic benefits including money, goods, or services to another entity as a result of past transactions or events.