Which of the Following Statements Regarding International Financial Reporting Standards

Multiple Choice

Which of the following statements regarding international financial reporting standards (IFRS) is false?

A) Common stock is titled as share capital.
B) Property, plant, and equipment can be reported on the balance sheet at either fair value or historical cost.
C) The last-in first-out (LIFO) inventory method is permitted.
D) Development costs are capitalizeD.The last-in first-out inventory (LIFO) method is prohibited under IFRS.