Indicate whether each statement is true or false:$1.$ The IASB has authority for setting Canadian accounting standards$\mathrm{.}2$All Canadian corporations must comply with international accounting standards$\mathrm{.}3.$Most public Canadian corporations are listed on the Toronto Stock Exchange$\mathrm{.}4.$IFRS must be used for the financial statements of every Canadian public corporation$\mathrm{.}5$The objective of general purpose financial reporting is to serve the information needs of a wide variety of users, including lenders, shareholders, employees, and regulators$\mathrm{.}6$The primary objective of financial accounting is to provide information about an enterprise's financial performance$\mathrm{.}7$If a corporation has a restrictive bond covenant that specifies a minimum times$-$interest$-$earned ratio, the corporation's management will be motivated to pick discretionary accounting policies that maximize income$\mathrm{.}8$Income tax law has no impact on the accounting choices made by management.The presence of a control block can have an impact on a public company's choice of accounting policies$\mathrm{.}10.$ Any Canadian company that uses U$.$S$.$ GAAP must prepare its statements in U$.$S$.$ dollars.