Which of the following statements is FALSE?

A.

The application of U.S. GAAP for public companies in the Unites States has been overseen by SEC.

B.

IFRS has been adapted in the United States.

C.

In the long run, a uniform set of global accounting standards should significantly reduce the costs of doing business globally.

D.

The advantage of a uniform set of global accounting standards is that financial statements from a U.S. company will be comparable to those of a foreign company.