Which Statement Is FALSE

question 115

Multiple Choice

Which statement is FALSE?

• A)International Financial Reporting Standards are used by many countries in the world.
• B)U.S.Generally Accepted Accounting Principles are used by many countries in the world.
• C)The Financial Accounting Standards Board is working with the International Accounting Standards Board to develop similar accounting standards.
• D)For many years,U.S.Generally Accepted Accounting Principles were considered to be the superior set of accounting standards in the world.

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Definitions:

Internships

Professional work experiences that provide learners or new professionals exposure to their field of interest, often as a part of their education.

Subjective

Based on or influenced by personal feelings, tastes, or opinions, rather than external facts.

Plan

A detailed proposal for achieving specific goals or tasks, outlining strategies, actions, and resources needed.

Summarization

The process of condensing information to present the main points succinctly.