Which of the following statements is true? a. The FASB has consistently resisted the adoption of IFRS in the United States for fear that it will lose its standard-setting authority. b. The requirement to use IFRS by the European Union led to a significant increase in the global acceptance of IFRS. c. IFRS have existed for nearly as long as U.S. GAAP: however. it only recently began to gain acceptance as a body of high-quality accounting standards. d. The SEC is considering allowing foreign companies who trade stock on the U.S. stock exchanges to use IFRS.
Cornerstones of Financial Accounti...
Cornerstones of Financial Accounti...
Which of the following statements is true?
a. The FASB has consistently resisted the adoption of IFRS in the United States for fear that it will lose its standard-setting authority.
b. The requirement to use IFRS by the European Union led to a significant increase in the global acceptance of IFRS.
c. IFRS have existed for nearly as long as U.S. GAAP: however. it only recently began to gain acceptance as a body of high-quality accounting standards.
d. The SEC is considering allowing foreign companies who trade stock on the U.S. stock exchanges to use IFRS.
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