Which of the Following Statements Is FALSE

question 20

Multiple Choice

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.

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Definitions:

Displacement

In psychology, a defense mechanism involving the transfer of an emotional response from the original object to a safer or more convenient target.

Fails An Exam

The occurrence of not achieving a passing grade or mark on an academic evaluation.

Defense Mechanism

Psychological strategies brought into play by the unconscious mind to manipulate, deny, or distort reality in order to defend against feelings of anxiety and unacceptable impulses.

Projection

A defense mechanism where individuals attribute their own unacceptable thoughts, feelings, and motives to another person.