Which of the following is true for reporting by private enterprises in accordance with Canadian GAAP?

Multiple Choice

a. They can choose to report under either ASPE or IFRS, as long as the standard is adopted in its entirety.

b. They would choose to use GAAP for publicly accountable enterprises if the cost of providing this information to the users is greater than the benefits provided.

c. They can choose to use some policies from ASPE and some policies from IFRS.

d.They must use the stand-alone standards for private enterprises (ASPE).