International Financial Reporting Standards are taking root throughout the world. However, it is unlikely that the U.S. will report according to IFRS before the second half of the twenty-first century.

Question

Quizplus · Accepted Answer

While it is true that the U.S. has not fully adopted IFRS, it is unclear when or if they will do so. Therefore, it cannot be concluded that it will take until the second half of the twenty-first century for the U.S. to report according to IFRS.

International Financial Reporting Standards Are Taking Root Throughout the World