Which of the Following Statements Is True

Multiple Choice

Which of the following statements is true?

A) Foreign firms registered with the SEC may file reports based on IFRS.
B) U.S.firms registered with the SEC may file reports based on IFRS.
C) The European Union requires firms to report based on GAAP.
D) Foreign firms registered with the SEC may file reports based on IFRS only if they reconcile all amounts to GAAP.