​The problem the agent faces when deciding which agent to hire is called

A) ​Adverse selection
B) Moral hazard
C) Both of the above
D) ​None of the above

Inventory written down under lower-of-cost-or market may be written back up to original cost in a subsequent period under $\begin{array}{lll}& \underline{\text{GAAP }}& \underline{\text{ IFRS }}\end{array}$
A) $\begin{array}{lllc}& \text{ Yes }& & \text{ No }\end{array}$
B) $\begin{array}{lllc}& \text{ Yes }& & \text{ Yes }\end{array}$
C) $\begin{array}{lllc}& \text{ No }& & \text{No }\end{array}$
D) $\begin{array}{lllc}& \text{ No }& & \text{Yes }\end{array}$