Which Statement Is FALSE

Multiple Choice

Which statement is FALSE?

A) Many U.S.companies that currently use LIFO for their U.S.operations must use another method if they have operations in foreign countries.
B) IFRS does not permit the use of LIFO.
C) IFRS does permit the FIFO method.
D) If LIFO is no longer allowed to be used in the United States,the tax burden on many companies will be lower.