Which of the following statements is FALSE?
A)The application of U.S.GAAP for public companies in the Unites States has been overseen by SEC.
B)The advantage of a uniform set of global accounting standards is that financial statements from a U.S.company will be comparable to those of a foreign company.
C)In the long run,a uniform set of global accounting standards should significantly reduce the costs of doing business globally.
D)IFRS has been adapted in the United States.

Question

Quizplus · Accepted Answer

IFRS has not been adopted in the United States, only some companies have voluntarily adopted it or reconciled their financial statements to it.

Which of the Following Statements Is FALSE