Which of the Following Statements Is False

question 93

Multiple Choice

Which of the following statements is false?

• A) Proprietorships, partnerships, and corporations are also found in countries that use IFRS.
• B) Non-U.S companies that trade shares in U.S markets must reconcile their accounting with GAAP.
• C) FASB and the IASB are working on a joint project related to the conceptual framework.
• D) GAAP is based on a conceptual framework that is similar to that used to develop IFRS.

---

Definitions:

Freedom

The license or freedom allowing individuals to act, speak, or reason according to their wishes, unrestrained by external limits.

White Rifle Clubs

Groups formed in the Southern United States during the Reconstruction era, composed mostly of white men opposing the Reconstruction policies and aiming to suppress African American rights and voting.

Mississippi

A state in the southern United States, known for its rich history, river of the same name, and significant roles in the civil rights movement.

Republicans

A political party in the United States known for its conservative policies and emphasis on strong national defense, free-market capitalism, and limited government intervention.