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Interim reporting is described as statutory compliance imposed on any publicly owned corporation or other similar entity for the purpose of compiling and presenting financial statements for a period less than a year's accounting period.

Differential reporting refers to the idea that some businesses should be allowed to ignore some or all of the requirements of accounting standards when preparing their financial statements.

Some accounting topics, such as earnings per share, interim reporting, and segment reporting, are not required for small and medium-sized businesses. As a result, these can be omitted.

Therefore option (b) is correct.

a) Exemption from reporting requirements for a new company class - limited-rate-guarantee corporation. The reporting criteria will be changed for the remaining enterprises bound by the guarantee.

c) The omission of topics not relevant to SMEs, such as earnings per share, interim financial reporting, and segment reporting, as well as easier options for accounting policy choices, such as no option to revalue property, equipment, or intangibles, simplicity of recognizing and measuring assets, liabilities, income, and expenses, fewer disclosures required, clear and easily translatable language, and revisions limited to once every three years, are all argued as reasons for the simplicity of IFRS for SMEs.

d) Differential reporting for small- and medium-sized entities does not require significantly more disclosures, since more items are not recognized in the financial statements.