If a U.S. domestic company does business in a foreign country, the Securities and Exchange Commission (SEC) requires th

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answerhappygod
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If a U.S. domestic company does business in a foreign country, the Securities and Exchange Commission (SEC) requires th

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If a U.S. domestic company does business in a foreign country, the Securities and Exchange
Commission (SEC) requires the use of International Financial Reporting Standards (IFRS) for
the company's financial reporting in the U.S.

Answer: FALSE
Explanation: The SEC is considering the appropriateness of International Financial Reporting
Standards (IFRS) for U.S. domestic companies. IFRS is not used for U.S. companies reporting in
the U.S
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