Which of the following statements is correct?

Please select the right answer.

US Standards are considered to be more principles-based than IFRS Standards

An unlisted UK company that does not apply IFRS Standards must apply FRS 101 and FRS 102

There are no differences between IAS 1 Presentation of Financial Statements and its US equivalent standard

IFRS 15 Revenue from Contracts with Customers is an example of a recent IFRS Standard that that the IASB and FASB have developed jointly