Significant Differences Between IFRS and Chinese GAAP Include All of the Following

Significant differences between IFRS and Chinese GAAP include all of the following EXCEPT:

A) Chinese GAAP allows the use of LIFO while IFRS prohibits it.
B) Chinese GAAP has different related party disclosure requirements.
C) Chinese GAAP follows the cost principle while IFRS allows for revaluations and recoveries of impairment losses.
D) Chinese GAAP uses the equity method of accounting for jointly controlled entities while IFRS also allows proportionate consolidation.